Crescent Energy Company (NYSE:CRGY) Receives $15.67 Average PT from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have been given an average rating of “Moderate Buy” by the thirteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.6667.

Several research analysts have commented on CRGY shares. Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. William Blair started coverage on shares of Crescent Energy in a report on Monday, August 25th. They set an “outperform” rating for the company. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the stock a “strong-buy” rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Mizuho lowered their target price on shares of Crescent Energy from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, September 15th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CRGY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Crescent Energy by 7.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 185,257 shares of the company’s stock valued at $2,707,000 after buying an additional 12,944 shares in the last quarter. GTS Securities LLC acquired a new position in shares of Crescent Energy in the 4th quarter valued at $465,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after buying an additional 705 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Crescent Energy by 30.7% in the 4th quarter. California State Teachers Retirement System now owns 179,917 shares of the company’s stock valued at $2,629,000 after buying an additional 42,253 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Crescent Energy by 458.8% in the 1st quarter. GAMMA Investing LLC now owns 27,819 shares of the company’s stock valued at $313,000 after purchasing an additional 22,841 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Trading Down 7.1%

Shares of CRGY stock opened at $9.08 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The stock has a market capitalization of $2.31 billion, a P/E ratio of -50.42 and a beta of 1.98. The company has a 50 day moving average price of $9.16 and a 200 day moving average price of $9.10.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The company had revenue of $897.98 million during the quarter, compared to analysts’ expectations of $868.34 million. Equities research analysts predict that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.12 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.3%. Crescent Energy’s dividend payout ratio is presently -266.67%.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.