Crescent Energy (NYSE:CRGY) Hits New 52-Week High After Analyst Upgrade

Shares of Crescent Energy Company (NYSE:CRGY) hit a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $13.00 to $14.00. Wells Fargo & Company currently has an overweight rating on the stock. Crescent Energy traded as high as $12.44 and last traded at $12.4440, with a volume of 1032464 shares. The stock had previously closed at $12.15.

Other equities research analysts also recently issued research reports about the stock. Evercore initiated coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective for the company. Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. Mizuho lifted their price target on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a report on Sunday, January 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

Institutional Trading of Crescent Energy

A number of institutional investors have recently made changes to their positions in CRGY. Vanguard Group Inc. grew its position in Crescent Energy by 34.6% in 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 in the last quarter. American Century Companies Inc. lifted its position in Crescent Energy by 8.0% during the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after buying an additional 1,434,789 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Crescent Energy by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock worth $107,999,000 after buying an additional 2,213,352 shares during the last quarter. State Street Corp grew its holdings in shares of Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after acquiring an additional 2,767,096 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Crescent Energy by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after acquiring an additional 1,256,114 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Down 1.8%

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The business has a 50-day moving average of $10.22 and a 200-day moving average of $9.28. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 23.55 and a beta of 1.57.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.30 by $0.19. The company had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. Research analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s dividend payout ratio (DPR) is currently 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.