Crescent Energy Company (NYSE:CRGY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.8182.

Several research firms have commented on CRGY. Raymond James Financial lowered their price objective on Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Thursday, June 18th. JPMorgan Chase & Co. raised shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Friday, March 20th. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Wells Fargo & Company increased their price target on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $9.37 on Friday. The stock has a market cap of $3.09 billion, a PE ratio of -12.49 and a beta of 1.40. The business has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $10.98. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52-week low of $7.68 and a 52-week high of $14.29.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, equities analysts expect that Crescent Energy will post 1.98 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.1%. Crescent Energy’s dividend payout ratio is -64.00%.

Institutional Investors Weigh In On Crescent Energy

Institutional investors 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 valued at $228,981,000 after purchasing an additional 7,015,982 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Crescent Energy by 775.1% during the fourth 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 in the last quarter. State Street Corp boosted 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 worth $107,464,000 after purchasing an additional 2,767,096 shares in the last quarter. Bank of America Corp DE grew its holdings in Crescent Energy by 308.2% in 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Crescent Energy by 77.8% in 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 buying an additional 2,234,324 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.