Crescent Energy Company (NYSE:CRGY) Given Average Recommendation of “Moderate Buy” by Analysts

Crescent Energy Company (NYSE:CRGY – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.00.

CRGY has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and issued a $18.00 target price on shares of Crescent Energy in a report on Tuesday, May 5th. KeyCorp upped their target price on shares of Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Wells Fargo & Company upped their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Piper Sandler upped their target price on shares of Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $20.00 target price on shares of Crescent Energy in a report on Thursday, April 30th.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kohlberg Kravis Roberts & Co. L.P. increased its stake in shares of Crescent Energy by 7.1% during the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after acquiring an additional 1,897,230 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after acquiring an additional 7,015,982 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Crescent Energy by 8.0% during the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after acquiring an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crescent Energy by 2.3% during the 1st 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 during the last quarter. Finally, State Street Corp increased its stake in shares of Crescent Energy by 27.6% during the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after acquiring an additional 2,767,096 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Price Performance

Crescent Energy stock opened at $11.79 on Tuesday. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.29. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm’s 50-day simple moving average is $12.75 and its 200 day simple moving average is $10.85. The firm has a market capitalization of $3.89 billion, a PE ratio of -15.71 and a beta of 1.37.

Crescent Energy (NYSE:CRGY – Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. On average, equities research analysts predict that Crescent Energy will post 1.99 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend payout ratio is -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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