Analysts Set Crescent Energy Company (NYSE:CRGY) Price Target at $15.58

Crescent Energy Company (NYSE:CRGY) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.5833.

CRGY has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. UBS Group assumed coverage on shares of Crescent Energy in a research report on Tuesday, July 14th. They set a “buy” rating and a $13.00 price target for the company. Stephens reiterated an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. Finally, Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th.

Crescent Energy Trading Down 0.9%

Shares of CRGY stock opened at $11.29 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a 12-month low of $7.68 and a 12-month high of $14.29. The stock has a market capitalization of $3.73 billion, a P/E ratio of -15.05 and a beta of 1.40. The firm’s 50 day moving average is $11.06 and its 200 day moving average is $11.18.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during 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 company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. Research analysts expect that Crescent Energy will post 1.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 4.3%. Crescent Energy’s dividend payout ratio (DPR) is presently -64.00%.

Institutional Investors Weigh In On Crescent Energy

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after purchasing an additional 7,015,982 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Crescent Energy by 775.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock worth $27,714,000 after purchasing an additional 2,925,780 shares during the period. State Street Corp lifted its position in Crescent Energy by 27.6% during the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after purchasing an additional 2,767,096 shares in the last quarter. Bank of America Corp DE lifted its position in Crescent Energy by 308.2% during the first quarter. Bank of America Corp DE now owns 3,056,820 shares of the company’s stock valued at $41,267,000 after purchasing an additional 2,307,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Crescent Energy by 77.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after purchasing an additional 2,234,324 shares during the period. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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.