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

Crescent Energy Company (NYSE:CRGY) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.1111.

CRGY has been the subject of several research reports. Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, October 17th. William Blair began coverage on Crescent Energy in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Crescent Energy in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. American Century Companies Inc. lifted its position in Crescent Energy by 8.0% during the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after acquiring an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Crescent Energy by 13.2% during the third quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company’s stock worth $95,080,000 after purchasing an additional 1,243,702 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Crescent Energy by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,270,974 shares of the company’s stock valued at $36,738,000 after purchasing an additional 195,385 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after purchasing an additional 1,174,576 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Crescent Energy by 11.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,215,262 shares of the company’s stock worth $24,900,000 after purchasing an additional 230,442 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

CRGY opened at $9.91 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $8.83 and its 200-day simple moving average is $8.98. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -66.04 and a beta of 1.77. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $866.58 million during the quarter, compared to analyst estimates of $887.54 million. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%. On average, equities research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, November 17th. Crescent Energy’s dividend payout ratio is presently -320.00%.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.