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

Crescent Energy Company (NYSE:CRGY) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

CRGY has been the topic of a number of research reports. Stephens restated an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a research note on Tuesday, May 5th. Wall Street Zen upgraded Crescent Energy from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Piper Sandler raised their price target on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. KeyCorp raised their price target on Crescent Energy from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings downgraded Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Crescent Energy by 16.1% in the 1st quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after purchasing an additional 8,173 shares during the period. AQR Capital Management LLC raised its holdings in Crescent Energy by 8.9% in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Crescent Energy by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after purchasing an additional 6,184 shares during the period. Goldman Sachs Group Inc. raised its holdings in 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Crescent Energy by 32.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after purchasing an additional 59,199 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Stock Performance

Shares of CRGY opened at $12.11 on Tuesday. The business’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $10.75. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a 12 month low of $7.68 and a 12 month high of $14.29. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -16.14 and a beta of 1.37.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. Research analysts anticipate that Crescent Energy will post 1.84 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, June 1st. Stockholders of record on Monday, May 18th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) is -64.00%.

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.