Crescent Energy (NYSE:CRGY) Trading Down 4.6% – What’s Next?

Crescent Energy Company (NYSE:CRGY) fell 4.6% on Monday . The company traded as low as $13.31 and last traded at $13.2650. 1,798,417 shares were traded during trading, a decline of 74% from the average daily volume of 7,010,725 shares. The stock had previously closed at $13.90.

Wall Street Analyst Weigh In

Several analysts have issued reports on CRGY shares. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a research note on Thursday, June 11th. Raymond James Financial reissued a “strong-buy” rating on shares of Crescent Energy in a research note on Thursday, September 10th. Mizuho boosted their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Stephens upped their price objective on shares of Crescent Energy from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley lowered shares of Crescent Energy to an “underweight” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and an average target price of $17.08.

Crescent Energy Stock Down 4.7%

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $12.54 and a 200 day simple moving average of $12.19. The firm has a market capitalization of $4.38 billion, a PE ratio of -264.85 and a beta of 1.45.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.26 billion. The business’s revenue was up 55.3% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. Crescent Energy’s dividend payout ratio (DPR) is presently -960.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kohlberg Kravis Roberts & Co. L.P. grew its position in shares of 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 worth $386,847,000 after buying an additional 1,897,230 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Crescent Energy by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock valued at $177,810,000 after acquiring an additional 298,818 shares in the last quarter. Jennison Associates LLC lifted its stake in Crescent Energy by 74.1% in the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock worth $57,435,000 after acquiring an additional 1,810,225 shares during the period. Cetera Investment Advisers lifted its stake in Crescent Energy by 5.1% in the first quarter. Cetera Investment Advisers now owns 3,341,779 shares of the company’s stock worth $45,114,000 after acquiring an additional 163,268 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Crescent Energy by 308.2% in the first quarter. Bank of America Corp DE now owns 3,056,820 shares of the company’s stock valued at $41,267,000 after acquiring an additional 2,307,971 shares in the last quarter. Institutional investors 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.