Crescent Energy (NYSE:CRGY) Shares Down 5.6% – Here’s Why

Crescent Energy Company (NYSE:CRGY) shares traded down 5.6% on Wednesday . The stock traded as low as $12.73 and last traded at $12.75. 1,079,641 shares were traded during trading, a decline of 86% from the average session volume of 7,876,805 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

CRGY has been the topic of several analyst reports. Johnson Rice reissued an “accumulate” rating and set a $19.00 target price on shares of Crescent Energy in a research report on Wednesday, March 25th. Evercore initiated coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 price target on the stock. Mizuho boosted their price objective on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. KeyCorp lifted their price objective on Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and a consensus price target of $14.80.

Crescent Energy Trading Up 5.5%

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $4.41 billion, a P/E ratio of 25.84 and a beta of 1.55. The business has a 50 day moving average of $11.19 and a 200-day moving average of $9.58.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. The firm had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. Analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.48 dividend on an annualized basis and a yield of 3.6%. Crescent Energy’s dividend payout ratio is presently 92.31%.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of CRGY. Royal Bank of Canada raised its stake in shares of Crescent Energy by 16.1% during 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 in the last quarter. AQR Capital Management LLC raised its position in Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after acquiring an additional 1,397 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Crescent Energy by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after acquiring an additional 6,184 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crescent Energy by 32.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock valued at $2,748,000 after acquiring an additional 59,199 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.