Crescent Energy (NYSE:CRGY) Shares Gap Up – Should You Buy?

Crescent Energy Company (NYSE:CRGY)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $10.38, but opened at $10.71. Crescent Energy shares last traded at $10.6150, with a volume of 1,300,146 shares traded.

Wall Street Analysts Forecast Growth

CRGY has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Mizuho upped their target price on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Wells Fargo & Company raised their price target on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.58.

Crescent Energy Stock Up 3.4%

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm’s 50-day moving average price is $11.21 and its 200 day moving average price is $11.09. The firm has a market cap of $3.55 billion, a P/E ratio of -14.31 and a beta of 1.40.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.57 EPS. Crescent Energy’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, research analysts expect that Crescent Energy Company will post 1.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s payout ratio is -64.00%.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Osaic Holdings Inc. raised its holdings in shares of Crescent Energy by 25.2% during the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after acquiring an additional 1,066 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Crescent Energy by 0.7% in the first quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company’s stock valued at $2,044,000 after purchasing an additional 1,073 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Crescent Energy by 1.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock worth $547,000 after purchasing an additional 1,152 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Crescent Energy by 2.0% in 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 last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Crescent Energy by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after purchasing an additional 1,397 shares in the last quarter. 52.11% of the stock is owned by 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.