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

Crescent Energy Company (NYSE:CRGY) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $14.80.

A number of research firms recently issued reports on CRGY. Wells Fargo & Company lifted their target price on Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. BMO Capital Markets began coverage on Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a report on Sunday, January 25th. Finally, Piper Sandler lifted their target price on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 12th.

Institutional Trading of Crescent Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. CM Management LLC acquired a new stake in Crescent Energy in the third quarter valued at $1,561,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Crescent Energy in the third quarter valued at $1,034,000. Public Sector Pension Investment Board raised its stake in Crescent Energy by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock valued at $6,467,000 after buying an additional 98,428 shares in the last quarter. Victory Capital Management Inc. raised its stake in Crescent Energy by 53.2% in the third quarter. Victory Capital Management Inc. now owns 1,119,187 shares of the company’s stock valued at $9,983,000 after buying an additional 388,604 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Crescent Energy by 37.5% in the third quarter. Quantbot Technologies LP now owns 452,963 shares of the company’s stock valued at $4,040,000 after buying an additional 123,653 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Trading Down 6.5%

NYSE:CRGY opened at $11.81 on Monday. The firm has a market cap of $3.87 billion, a PE ratio of 22.70 and a beta of 1.55. The stock has a fifty day moving average price of $11.91 and a 200 day moving average price of $9.87. Crescent Energy has a 12-month low of $7.68 and a 12-month high of $14.02. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.

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

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $0.12 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.48 dividend on an annualized basis and a yield of 4.1%. Crescent Energy’s dividend payout ratio (DPR) is 92.31%.

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.