Crescent Energy Company (NYSE:CRGY) Receives $15.73 Consensus Price Target from Brokerages

Crescent Energy Company (NYSE:CRGYGet Free Report) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.7273.

CRGY has been the subject of several recent analyst reports. Zacks Research raised shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a research note on Friday, March 20th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Sunday. William Blair restated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. Finally, Johnson Rice restated an “accumulate” rating and set a $19.00 price objective on shares of Crescent Energy in a report on Wednesday, March 25th.

Get Our Latest Report on CRGY

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CM Management LLC acquired a new stake in shares of Crescent Energy during the 3rd quarter worth about $1,561,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Crescent Energy in the third quarter worth about $1,034,000. Public Sector Pension Investment Board raised its stake in shares of Crescent Energy by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock worth $6,467,000 after acquiring an additional 98,428 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Crescent Energy by 53.2% in the third quarter. Victory Capital Management Inc. now owns 1,119,187 shares of the company’s stock worth $9,983,000 after acquiring an additional 388,604 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Crescent Energy by 37.5% in the third quarter. Quantbot Technologies LP now owns 452,963 shares of the company’s stock worth $4,040,000 after acquiring an additional 123,653 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

NYSE CRGY opened at $12.73 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $12.63 and a 200 day simple moving average of $10.33. The company has a market cap of $4.20 billion, a P/E ratio of -16.97 and a beta of 1.44. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $14.29.

Crescent Energy (NYSE:CRGYGet Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. On average, sell-side analysts predict that Crescent Energy will post 1.84 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, May 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. Crescent Energy’s payout ratio is presently -64.00%.

About Crescent Energy

(Get Free Report)

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.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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