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

Shares of Crescent Energy Company (NYSE:CRGY) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $13.1250.

CRGY has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday. Piper Sandler upped their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. BMO Capital Markets began coverage on Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Finally, Mizuho upped 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.

Institutional Trading of Crescent Energy

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Crescent Energy by 34.6% during the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after purchasing an additional 7,015,982 shares during the period. American Century Companies Inc. lifted its position in shares of Crescent Energy by 28.4% during the second quarter. American Century Companies Inc. now owns 17,928,597 shares of the company’s stock worth $154,186,000 after purchasing an additional 3,960,998 shares in the last quarter. Balyasny Asset Management L.P. boosted 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 valued at $27,714,000 after purchasing an additional 2,925,780 shares during the period. State Street Corp boosted 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 valued at $107,464,000 after purchasing an additional 2,767,096 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Crescent Energy by 77.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after purchasing an additional 2,234,324 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Up 2.8%

Shares of NYSE:CRGY opened at $12.50 on Thursday. The stock has a 50-day simple moving average of $10.14 and a 200-day simple moving average of $9.26. The stock has a market capitalization of $4.10 billion, a P/E ratio of 24.03 and a beta of 1.57. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $12.53. 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 results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.30 by $0.19. The firm had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. Equities analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 annualized dividend and a yield of 3.8%. Crescent Energy’s payout ratio is 92.31%.

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.