Crescent Energy (NYSE:CRGY) Research Coverage Started at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Crescent Energy (NYSE:CRGY) in a research note released on Friday, Marketbeat reports. The firm issued a market perform rating and a $10.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Piper Sandler cut their price target on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Wall Street Zen lowered shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research downgraded Crescent Energy from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. Finally, Mizuho increased their target price on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.55.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $8.12 on Friday. The company has a market cap of $2.07 billion, a P/E ratio of -54.16 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.72. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The business has a fifty day simple moving average of $8.83 and a 200-day simple moving average of $8.90.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $866.58 million for the quarter, compared to the consensus estimate of $887.54 million. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%. Equities research analysts forecast that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, November 17th. Crescent Energy’s dividend payout ratio (DPR) is currently -320.00%.

Institutional Trading of Crescent Energy

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in Crescent Energy by 19.8% in the fourth quarter. SG Americas Securities LLC now owns 60,957 shares of the company’s stock valued at $511,000 after purchasing an additional 10,093 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Crescent Energy by 33.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 36,748 shares of the company’s stock valued at $295,000 after buying an additional 9,236 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Crescent Energy by 72.4% during the 4th quarter. GAMMA Investing LLC now owns 16,823 shares of the company’s stock valued at $141,000 after buying an additional 7,063 shares during the period. JPMorgan Chase & Co. lifted its position in Crescent Energy by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 200,607 shares of the company’s stock worth $1,789,000 after acquiring an additional 8,583 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Crescent Energy during the 3rd quarter worth approximately $170,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.