Crescent Energy (NYSE:CRGY) Upgraded by Seaport Research Partners to “Strong Sell” Rating

Seaport Research Partners upgraded shares of Crescent Energy (NYSE:CRGY) to a strong sell rating in a research report report published on Wednesday, Marketbeat.com reports.

A number of other brokerages also recently commented on CRGY. Mizuho boosted their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a report on Thursday, June 11th. Weiss Ratings upgraded shares of Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, UBS Group increased their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.92.

Crescent Energy Stock Performance

NYSE:CRGY opened at $13.93 on Wednesday. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.53. The company has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $11.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.00. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -278.54 and a beta of 1.45.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy’s revenue for the quarter was up 55.3% on a year-over-year basis. As a group, equities analysts anticipate that Crescent Energy will post 2.07 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 17th. Crescent Energy’s dividend payout ratio (DPR) is -960.00%.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds have recently added to or reduced their stakes in CRGY. Strs Ohio acquired a new stake in Crescent Energy during the first quarter worth approximately $32,000. Fifth Third Bancorp boosted its holdings in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after buying an additional 2,286 shares during the last quarter. Quarry LP grew its position in shares of Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after buying an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after acquiring an additional 1,401 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

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.