Crescent Energy’s (CRGY) “Accumulate” Rating Reaffirmed at Johnson Rice

Johnson Rice reissued their accumulate rating on shares of Crescent Energy (NYSE:CRGY) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $19.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. upgraded Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price on the stock in a research report on Friday, March 20th. Mizuho lifted their price objective on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. BMO Capital Markets started coverage on shares of Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price objective on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price objective on shares of Crescent Energy in a research note on Sunday, January 25th. Finally, Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus target price of $14.30.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $13.52 on Wednesday. The business has a fifty day moving average of $10.59 and a 200 day moving average of $9.38. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $13.57. 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 firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 25.99 and a beta of 1.57.

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

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.48 dividend on an annualized basis and a yield of 3.6%. Crescent Energy’s dividend payout ratio is currently 92.31%.

Institutional Trading of Crescent Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitlin John LLC purchased a new position in shares of Crescent Energy during the 3rd quarter valued at approximately $27,000. Nisa Investment Advisors LLC increased its holdings in Crescent Energy by 50.2% in the 3rd 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 in the last quarter. Fifth Third Bancorp increased its holdings in Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares during the period. Finally, Quarry LP raised its position in Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after acquiring an additional 3,123 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

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.