Crescent Energy Company (NYSE:CRGY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Crescent Energy Company (NYSE:CRGY) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.1250.

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. Evercore started coverage on Crescent Energy in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. Mizuho increased their target price on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, William Blair reissued an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $12.50 on Thursday. The company has a 50-day simple moving average of $10.14 and a 200-day simple moving average of $9.26. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $4.10 billion, a PE ratio of 24.03 and a beta of 1.57. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $12.53.

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

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s dividend payout ratio is presently 92.31%.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CM Management LLC acquired a new stake in shares of Crescent Energy during the 3rd quarter worth $1,561,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Crescent Energy in the 3rd quarter worth $1,034,000. Public Sector Pension Investment Board boosted its holdings in Crescent Energy by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock valued at $6,467,000 after acquiring an additional 98,428 shares during the last quarter. Capital Fund Management S.A. grew its position in Crescent Energy by 346.3% during the second quarter. Capital Fund Management S.A. now owns 439,593 shares of the company’s stock valued at $3,780,000 after acquiring an additional 341,101 shares during the period. Finally, Kore Advisors LP grew its position in Crescent Energy by 17.0% during the second quarter. Kore Advisors LP now owns 1,479,256 shares of the company’s stock valued at $12,722,000 after acquiring an additional 214,939 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.