Crescent Energy (NYSE:CRGY) Price Target Raised to $14.00 at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price objective lifted by Wells Fargo & Company from $13.00 to $14.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on CRGY. BMO Capital Markets assumed coverage on Crescent Energy in a research note on Friday, January 9th. They issued a “market perform” rating and a $10.00 target price for the company. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. William Blair restated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Finally, Evercore began coverage on Crescent Energy in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $12.14 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. Crescent Energy has a one year low of $6.83 and a one year high of $12.40. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 23.34 and a beta of 1.57. The firm has a 50 day simple moving average of $10.04 and a 200 day simple moving average of $9.24.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.30 by $0.19. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. The business had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. Research analysts predict that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s payout ratio is presently 92.31%.

Institutional Trading of Crescent Energy

Hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its stake in Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after purchasing an additional 1,066 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Crescent Energy by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock valued at $547,000 after purchasing an additional 1,152 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Crescent Energy by 50.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,241 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Crescent Energy by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after purchasing an additional 1,245 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in Crescent Energy by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 18,272 shares of the company’s stock valued at $157,000 after buying an additional 1,269 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.