Crescent Energy (NYSE:CRGY) Cut to “Accumulate” at Johnson Rice

Johnson Rice lowered shares of Crescent Energy (NYSE:CRGY) from a buy rating to an accumulate rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $19.00 target price on the stock.

CRGY has been the topic of a number of other reports. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. Mizuho increased their price objective on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Friday, March 20th. Finally, William Blair restated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.30.

Crescent Energy Trading Up 1.3%

Shares of CRGY opened at $13.66 on Tuesday. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $13.86. The company has a market capitalization of $4.48 billion, a PE ratio of 26.26 and a beta of 1.57. The stock has a fifty day moving average of $10.70 and a two-hundred day moving average of $9.41. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48.

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

Crescent Energy Dividend Announcement

The company 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. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, March 11th. Crescent Energy’s payout ratio is 92.31%.

Hedge Funds Weigh In On Crescent Energy

A number of large investors have recently modified their holdings of the company. Caitlin John LLC purchased a new stake in shares of Crescent Energy during the 3rd quarter worth about $27,000. Nisa Investment Advisors LLC raised its holdings in Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after buying an additional 1,241 shares during the period. Fifth Third Bancorp lifted its position in Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted 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 valued at $33,000 after buying an additional 2,286 shares in the last quarter. Finally, Quarry LP grew its stake 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 buying an additional 3,123 shares during the period. 52.11% of the stock is currently 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.