Crescent Energy (NYSE:CRGY) Price Target Raised to $18.00

Crescent Energy (NYSE:CRGY) had its target price boosted by Stephens from $17.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. UBS Group initiated coverage on Crescent Energy in a research report on Tuesday, July 14th. They set a “buy” rating and a $13.00 price target for the company. Wells Fargo & Company increased their price target on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Morgan Stanley lowered Crescent Energy to an “underweight” rating in a report on Monday. Finally, Weiss Ratings cut shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $11.30 on Tuesday. The firm’s 50 day moving average is $10.72 and its two-hundred day moving average is $11.38. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.29. The firm has a market capitalization of $3.73 billion, a P/E ratio of -225.97 and a beta of 1.41. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.00.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The business’s revenue for the quarter was up 55.3% on a year-over-year basis. Analysts anticipate that Crescent Energy will post 1.8 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, August 17th. Crescent Energy’s dividend payout ratio (DPR) is currently -960.00%.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently added to or reduced their stakes in CRGY. Osaic Holdings Inc. raised its position in Crescent Energy by 25.2% during the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares during the period. Sunbelt Securities Inc. lifted its stake in Crescent Energy by 0.7% in the 1st quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company’s stock worth $2,044,000 after acquiring an additional 1,073 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Crescent Energy by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock worth $547,000 after acquiring an additional 1,152 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Crescent Energy by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after acquiring an additional 1,245 shares during the period. Finally, AQR Capital Management LLC grew its stake in Crescent Energy by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after acquiring an additional 1,397 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Company Profile

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.