Crescent Energy (NYSE:CRGY) Trading Down 4.6% – Time to Sell?

Crescent Energy Company (NYSE:CRGYGet Free Report)’s share price fell 4.6% on Monday . The company traded as low as $13.31 and last traded at $13.2650. Approximately 1,798,417 shares changed hands during mid-day 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 Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Seaport Research Partners began coverage on Crescent Energy in a research report on Thursday, September 3rd. They set a “sell” rating and a $12.00 target price on the stock. UBS Group reiterated a “buy” rating and set a $19.00 price objective on shares of Crescent Energy in a research note on Monday, September 14th. Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Stephens raised their target price on Crescent Energy from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.08.

View Our Latest Report on CRGY

Crescent Energy Stock Down 4.7%

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 company has a market cap of $4.38 billion, a PE ratio of -264.85 and a beta of 1.45. The stock has a 50-day moving average of $12.54 and a 200-day moving average of $12.19.

Crescent Energy (NYSE:CRGYGet Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, topping 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 business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The firm’s revenue was up 55.3% on a year-over-year basis. Sell-side analysts predict that Crescent Energy Company will post 2.17 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 17th. Crescent Energy’s dividend payout ratio is -960.00%.

Institutional Investors Weigh In On Crescent Energy

Several hedge funds have recently bought and sold shares of CRGY. Bank of America Corp DE raised its position in shares of Crescent Energy by 308.2% during the 1st quarter. Bank of America Corp DE now owns 3,056,820 shares of the company’s stock valued at $41,267,000 after buying an additional 2,307,971 shares in the last quarter. Pickering Energy Partners LP grew its position in Crescent Energy by 5,373.0% in the fourth quarter. Pickering Energy Partners LP now owns 2,189,194 shares of the company’s stock worth $18,367,000 after acquiring an additional 2,149,194 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Crescent Energy in the second quarter valued at $19,415,000. Kohlberg Kravis Roberts & Co. L.P. raised its position in Crescent Energy by 7.1% during the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after purchasing an additional 1,897,230 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Crescent Energy by 74.1% during the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock valued at $57,435,000 after purchasing an additional 1,810,225 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

About Crescent Energy

(Get Free Report)

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.

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