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

Crescent Energy Company (NYSE:CRGY) has received an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.4167.

A number of equities analysts have weighed in on CRGY shares. KeyCorp reiterated an “overweight” rating and issued a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Morgan Stanley cut Crescent Energy to an “underweight” rating in a report on Monday, August 3rd. Wells Fargo & Company cut their target price on Crescent Energy from $24.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. Finally, Weiss Ratings raised Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, August 17th.

Crescent Energy Stock Down 0.6%

CRGY opened at $14.57 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. Crescent Energy has a 1-year low of $7.68 and a 1-year high of $15.04. The company has a market capitalization of $4.81 billion, a PE ratio of -291.26 and a beta of 1.45. The firm’s 50 day simple moving average is $12.14 and its two-hundred day simple moving average is $12.10.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, topping 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 company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Crescent Energy’s quarterly revenue was up 55.3% on a year-over-year basis. As a group, equities analysts forecast that Crescent Energy will post 2.17 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 3.3%. Crescent Energy’s dividend payout ratio (DPR) is presently -960.00%.

Hedge Funds Weigh In On Crescent Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CRGY. Engineers Gate Manager LP bought a new stake in Crescent Energy in the second quarter worth $1,183,000. NewEdge Advisors LLC raised its holdings in shares of Crescent Energy by 1.1% in the second quarter. NewEdge Advisors LLC now owns 145,918 shares of the company’s stock worth $1,433,000 after buying an additional 1,650 shares during the period. Mraz Amerine & Associates Inc. lifted its position in shares of Crescent Energy by 3.1% during the second quarter. Mraz Amerine & Associates Inc. now owns 208,065 shares of the company’s stock worth $2,043,000 after purchasing an additional 6,187 shares during the last quarter. Allworth Financial LP raised its stake in shares of Crescent Energy by 31.3% during the second quarter. Allworth Financial LP now owns 6,770 shares of the company’s stock valued at $66,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Corient Private Wealth LP raised its holdings in shares of Crescent Energy by 856.5% in the second quarter. Corient Private Wealth LP now owns 229,407 shares of the company’s stock valued at $2,253,000 after acquiring an additional 205,423 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

Crescent Energy Company (NYSE: CRGY) is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.