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

Shares of Crescent Energy Company (NYSE:CRGY) have been given an average recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.8182.

A number of analysts recently commented on CRGY shares. Raymond James Financial lowered their price objective on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 18th. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Stephens restated an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a report on Tuesday, May 5th. Johnson Rice reaffirmed an “accumulate” rating and set a $19.00 price target on shares of Crescent Energy in a research report on Wednesday, March 25th. Finally, KeyCorp reiterated an “overweight” rating and issued a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th.

Crescent Energy Trading Down 3.8%

NYSE:CRGY opened at $9.45 on Friday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -12.59 and a beta of 1.41. Crescent Energy has a 1-year low of $7.68 and a 1-year high of $14.29. The business’s 50-day moving average price is $11.97 and its two-hundred day moving average price is $10.99. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12.

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

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 5.1%. Crescent Energy’s payout ratio is presently -64.00%.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently made changes to their positions in CRGY. Kohlberg Kravis Roberts & Co. L.P. lifted its position in Crescent Energy by 7.1% in the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after acquiring an additional 1,897,230 shares in the last quarter. Vanguard Group Inc. increased its holdings in Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after purchasing an additional 7,015,982 shares in the last quarter. American Century Companies Inc. increased its holdings in Crescent Energy by 8.0% during the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after purchasing an additional 1,434,789 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Crescent Energy by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock valued at $177,810,000 after purchasing an additional 298,818 shares during the period. Finally, State Street Corp raised its stake in shares of Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after purchasing an additional 2,767,096 shares during the period. Institutional investors 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.