Brokerages Set Crescent Energy Company (NYSE:CRGY) Target Price at $16.33

Shares of Crescent Energy Company (NYSE:CRGY) have received a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.3333.

CRGY has been the topic of several recent analyst reports. Stephens increased their target price on Crescent Energy from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target on Crescent Energy from $18.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. KeyCorp reaffirmed an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th. Wall Street Zen upgraded Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $19.00 price objective on shares of Crescent Energy in a report on Monday, August 3rd.

Institutional Trading of Crescent Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRGY. Strs Ohio purchased a new stake in shares of Crescent Energy during the 1st quarter worth approximately $32,000. Fifth Third Bancorp grew its position in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after buying an additional 2,286 shares during the last quarter. Quarry LP raised its stake in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after acquiring an additional 3,123 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after acquiring an additional 1,401 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Trading Up 2.0%

NYSE CRGY opened at $12.94 on Friday. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.29. The firm has a 50 day moving average of $10.78 and a two-hundred day moving average of $11.58. 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 capitalization of $4.28 billion, a PE ratio of -258.73 and a beta of 1.41.

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 analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. Crescent Energy’s revenue was up 55.3% compared to the same quarter last year. As a group, research analysts expect that Crescent Energy will post 2.07 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 17th. Crescent Energy’s dividend payout ratio is -960.00%.

Crescent Energy Company Profile

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.