Crescent Energy Company (NYSE:CRGY) Receives $15.33 Average PT from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.1111.

Several research analysts recently issued reports on CRGY shares. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the stock a “strong-buy” rating in a report on Wednesday, August 27th. Piper Sandler dropped their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company cut their price objective on Crescent Energy from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, October 17th.

Crescent Energy Price Performance

Crescent Energy stock opened at $8.99 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $8.71 and a 200-day simple moving average of $8.93. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The stock has a market capitalization of $2.29 billion, a PE ratio of -49.92 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $866.58 million for the quarter, compared to analysts’ expectations of $887.54 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. Equities analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.3%. Crescent Energy’s dividend payout ratio (DPR) is -320.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Crescent Energy by 28.4% during the second quarter. American Century Companies Inc. now owns 17,928,597 shares of the company’s stock worth $154,186,000 after purchasing an additional 3,960,998 shares in the last quarter. Nuveen LLC purchased a new position in shares of Crescent Energy in the first quarter valued at $21,782,000. Alyeska Investment Group L.P. raised its stake in shares of Crescent Energy by 452.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock worth $17,817,000 after buying an additional 1,298,155 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Crescent Energy by 13.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company’s stock worth $95,080,000 after buying an additional 1,243,702 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

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.