Crescent Energy Company (NYSE:CRGY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Crescent Energy Company (NYSE:CRGY) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.8182.

A number of analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Raymond James Financial decreased their price objective on Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a report on Thursday, June 18th. Mizuho increased their price objective on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday. Finally, KeyCorp restated an “overweight” rating and issued a $19.00 price objective on shares of Crescent Energy in a report on Thursday, June 11th.

Crescent Energy Stock Down 0.4%

NYSE CRGY opened at $10.06 on Friday. The business has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $10.98. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. Crescent Energy has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The stock has a market capitalization of $3.32 billion, a PE ratio of -13.42 and a beta of 1.37.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. Equities analysts expect that Crescent Energy will post 1.98 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s dividend payout ratio is currently -64.00%.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after purchasing an additional 1,066 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Crescent Energy by 0.7% in the first quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company’s stock worth $2,044,000 after purchasing an additional 1,073 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Crescent Energy by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock worth $547,000 after purchasing an additional 1,152 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Crescent Energy by 2.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after purchasing an additional 1,245 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Crescent Energy by 8.9% in the first 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 in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.