Crescent Energy (NYSE:CRGY) Shares Up 4.6% – Should You Buy?

Shares of Crescent Energy Company (NYSE:CRGY) rose 4.6% during mid-day trading on Tuesday . The company traded as high as $15.29 and last traded at $15.2550. Approximately 2,288,018 shares were traded during trading, a decline of 67% from the average daily volume of 6,923,709 shares. The stock had previously closed at $14.59.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRGY. Mizuho boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. UBS Group reissued a “buy” rating and issued a $19.00 price objective on shares of Crescent Energy in a research note on Monday. Raymond James Financial restated a “strong-buy” rating on shares of Crescent Energy in a research report on Thursday, September 10th. Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.62.

Crescent Energy Trading Down 6.3%

The business has a 50-day moving average of $12.36 and a 200-day moving average of $12.16. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.00. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of -288.06 and a beta of 1.45.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.Crescent Energy’s revenue for the quarter was up 55.3% compared to the same quarter last year. As a group, research analysts forecast that Crescent Energy Company will post 2.17 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 17th. Crescent Energy’s dividend payout ratio (DPR) is presently -960.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. raised its holdings in shares of Crescent Energy by 0.7% in the 1st quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company’s stock worth $2,044,000 after buying an additional 1,073 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Crescent Energy by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock valued at $526,000 after acquiring an additional 1,245 shares during the period. Allworth Financial LP boosted its stake in shares of Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after purchasing an additional 1,401 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Crescent Energy by 4.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 38,292 shares of the company’s stock worth $517,000 after purchasing an additional 1,638 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Crescent Energy by 1.1% during the 2nd quarter. NewEdge Advisors LLC now owns 145,918 shares of the company’s stock worth $1,433,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company (NYSE: CRGY) is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.