Crescent Energy (NYSE:CRGY) Receives Average Rating of “Buy” from Analysts

Shares of Crescent Energy (NYSE:CRGY) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $16.25.

Several analysts recently issued reports on CRGY shares. Mizuho reiterated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, March 5th. Tudor, Pickering, Holt & Co. began coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective for the company. Raymond James cut their target price on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Finally, Truist Financial decreased their price target on Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 5th.

Crescent Energy Stock Down 2.5 %

Shares of Crescent Energy stock opened at $11.05 on Thursday. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $14.22. The company has a market cap of $1.98 billion, a P/E ratio of 8.56 and a beta of 2.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $11.29 and a 200 day moving average price of $11.56.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.37. Crescent Energy had a net margin of 2.84% and a return on equity of 13.30%. The business had revenue of $657.73 million during the quarter, compared to analyst estimates of $584.12 million. As a group, analysts expect that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Thursday, March 14th. Crescent Energy’s dividend payout ratio (DPR) is 37.21%.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 13.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Crescent Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Crescent Energy by 94.1% during the third quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock valued at $96,585,000 after buying an additional 3,705,389 shares during the last quarter. Jump Financial LLC lifted its position in shares of Crescent Energy by 1,063.1% in the 3rd quarter. Jump Financial LLC now owns 139,104 shares of the company’s stock worth $1,758,000 after acquiring an additional 127,144 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Crescent Energy in the 3rd quarter worth approximately $6,320,000. Graham Capital Management L.P. grew its holdings in shares of Crescent Energy by 53.2% during the 3rd quarter. Graham Capital Management L.P. now owns 77,735 shares of the company’s stock worth $983,000 after purchasing an additional 27,010 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Crescent Energy by 72.3% during the third quarter. Barclays PLC now owns 37,727 shares of the company’s stock valued at $477,000 after purchasing an additional 15,827 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including the Eagle Ford, Marcellus, Utica, and Rockies in the United States.