Crescent Energy (NYSE:CRGY) Price Target Raised to $18.00

Crescent Energy (NYSE:CRGY) had its target price hoisted by Wells Fargo & Company from $14.00 to $18.00 in a research report report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Johnson Rice reiterated an “accumulate” rating and issued a $19.00 target price on shares of Crescent Energy in a report on Wednesday, March 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a report on Sunday, January 25th. Finally, KeyCorp lifted their target price on shares of Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Crescent Energy Stock Up 0.3%

Crescent Energy stock opened at $12.74 on Thursday. Crescent Energy has a fifty-two week low of $7.68 and a fifty-two week high of $14.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a 50 day moving average price of $12.13 and a 200 day moving average price of $10.00. The company has a market capitalization of $4.18 billion, a PE ratio of 24.49 and a beta of 1.55.

Crescent Energy (NYSE:CRGY) last posted its 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 net margin of 3.71% and a return on equity of 8.36%. The firm had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. Research analysts expect that Crescent Energy will post 1.52 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 paid a $0.12 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. Crescent Energy’s payout ratio is 92.31%.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors have recently modified their holdings of CRGY. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 34.6% in the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after acquiring an additional 7,015,982 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Crescent Energy by 775.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock worth $27,714,000 after acquiring an additional 2,925,780 shares in the last quarter. State Street Corp grew its stake in shares of Crescent Energy by 27.6% in the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock worth $107,464,000 after acquiring an additional 2,767,096 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Crescent Energy by 77.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock worth $42,836,000 after acquiring an additional 2,234,324 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Crescent Energy by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock worth $107,999,000 after acquiring an additional 2,213,352 shares in the last quarter. 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.