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

Crescent Energy Company (NYSE:CRGY) has earned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.6667.

A number of analysts recently weighed in on CRGY shares. Wells Fargo & Company cut their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, June 16th. Piper Sandler raised their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the company a “strong-buy” rating in a report on Wednesday, August 27th. Finally, William Blair began coverage on Crescent Energy in a report on Monday, August 25th. They set an “outperform” rating for the company.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Brooklyn Investment Group grew its position in shares of Crescent Energy by 1,110.3% in the 1st quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock valued at $28,000 after buying an additional 2,254 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after purchasing an additional 705 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Crescent Energy during the first quarter worth about $34,000. Osaic Holdings Inc. increased its position in shares of Crescent Energy by 25.2% during 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. Finally, GAMMA Investing LLC increased its position in shares of Crescent Energy by 287.3% during the second quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock worth $82,000 after purchasing an additional 7,110 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Trading Up 1.0%

CRGY opened at $9.01 on Thursday. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -50.03 and a beta of 1.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average price of $9.17 and a 200 day moving average price of $9.10.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.23 by $0.20. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The firm had revenue of $897.98 million during the quarter, compared to analysts’ expectations of $868.34 million. Sell-side analysts expect that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Monday, August 18th. Crescent Energy’s dividend payout ratio is -266.67%.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.