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

Shares of Crescent Energy Company (NYSE:CRGY) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.6667.

Several brokerages have recently issued reports on CRGY. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Mizuho decreased their price target on shares of Crescent Energy from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. William Blair began coverage on shares of Crescent Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen raised shares of Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th.

Crescent Energy Stock Down 7.1%

Shares of NYSE CRGY opened at $9.08 on Thursday. The company’s 50-day simple moving average is $9.16 and its 200-day simple moving average is $9.10. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -50.42 and a beta of 1.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The business had revenue of $897.98 million for the quarter, compared to analyst estimates of $868.34 million. Equities analysts predict that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, August 18th. Crescent Energy’s dividend payout ratio (DPR) is currently -266.67%.

Hedge Funds Weigh In On Crescent Energy

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Crescent Energy by 1.6% in the second quarter. Yousif Capital Management LLC now owns 67,901 shares of the company’s stock valued at $584,000 after purchasing an additional 1,095 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Crescent Energy by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 18,272 shares of the company’s stock valued at $157,000 after purchasing an additional 1,269 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Crescent Energy by 8.9% in the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.