Crescent Energy Company (NYSE:CRGY) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Crescent Energy has a “Moderate Buy” consensus rating from 16 analysts, with nine buys, one strong buy, five holds and one sell. The average 12-month price target is $15.92, above the stock’s $14.22 opening price.
• The company exceeded quarterly expectations, reporting $0.69 in adjusted earnings per share versus the $0.59 consensus estimate and $1.39 billion in revenue, up 55.3% year over year.
• Crescent Energy pays a quarterly dividend of $0.12 per share, equivalent to a 3.4% annual yield, while institutional investors and hedge funds own 52.11% of the company.

Shares of Crescent Energy Company (NYSE:CRGY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, nine 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 updated their coverage on the stock in the last year is $15.9167.

Several research firms have issued reports on CRGY. Raymond James Financial restated a "strong-buy" rating and set a $19.00 price objective on shares of Crescent Energy in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Morgan Stanley cut shares of Crescent Energy to an "underweight" rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Crescent Energy from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, UBS Group boosted their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, August 6th.

Crescent Energy Stock Up 0.2%

Shares of CRGY stock opened at $14.22 on Thursday. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $14.53. The stock has a market cap of $4.70 billion, a PE ratio of -284.44 and a beta of 1.45. The business's fifty day moving average is $11.83 and its 200-day moving average is $12.01. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released 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 net margin of 1.27% and a return on equity of 10.52%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.26 billion. The firm's revenue was up 55.3% compared to the same quarter last year. Equities analysts expect that Crescent Energy will post 2.07 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, August 17th. Crescent Energy's payout ratio is presently -960.00%.

Institutional Trading of Crescent Energy

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Crescent Energy by 16.1% in the first quarter. Royal Bank of Canada now owns 58,900 shares of the company's stock worth $662,000 after buying an additional 8,173 shares during the period. AQR Capital Management LLC lifted its stake in Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company's stock worth $192,000 after acquiring an additional 1,397 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Crescent Energy by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company's stock worth $1,109,000 after acquiring an additional 6,184 shares during the period. Goldman Sachs Group Inc. boosted its position in Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company's stock worth $44,616,000 after acquiring an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Crescent Energy by 32.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company's stock valued at $2,748,000 after acquiring an additional 59,199 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

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.

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