Crescent Energy Company (NYSE:CRGY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $13.2727.

CRGY has been the topic of a number of research reports. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a research note on Sunday. Evercore ISI started coverage on Crescent Energy in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. Mizuho raised their target price on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Wall Street Zen lowered Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BMO Capital Markets assumed 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.

Crescent Energy Stock Performance

Crescent Energy stock opened at $9.22 on Wednesday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -61.43 and a beta of 1.73. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $8.75 and its 200-day moving average is $8.85.

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

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Monday, November 17th. Crescent Energy’s dividend payout ratio (DPR) is presently -320.00%.

Institutional Trading of Crescent Energy

Several large investors have recently modified their holdings of the business. Caitlin John LLC acquired a new position in shares of Crescent Energy in the third quarter worth about $27,000. Nisa Investment Advisors LLC increased its holdings in Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,241 shares during the last quarter. Quarry LP raised its position in shares of Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Crescent Energy by 135.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock valued at $54,000 after buying an additional 3,466 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.