Crescent Energy Company (NYSE:CRGY) Stock Has Average Target Price of $17.14 According to Brokerages

Key Points

• Analyst consensus is “Moderate Buy” for Crescent Energy, with 11 buy, two strong-buy, four hold and one sell rating. The average 12-month price target is $17.14 versus the stock’s $13.76 opening price.
• Crescent Energy exceeded quarterly expectations, reporting $0.69 in earnings per share versus the $0.59 consensus and $1.39 billion in revenue, up 55.3% year over year.
• The company declared a quarterly dividend of $0.12, equal to $0.48 annually and a 3.5% yield. Institutional investors own 52.11% of the company’s shares.

Crescent Energy Company (NYSE:CRGY - Get Free Report) has received an average rating of "Moderate Buy" from the eighteen brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.14.

Several research firms recently issued reports on CRGY. Raymond James Financial reiterated a "strong-buy" rating on shares of Crescent Energy in a research report on Thursday, September 10th. Evercore reaffirmed an "outperform" rating on shares of Crescent Energy in a report on Wednesday, October 14th. Mizuho lifted their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Seaport Research Partners assumed coverage on Crescent Energy in a research report on Thursday, September 3rd. They issued a "sell" rating and a $12.00 target price on the stock. Finally, Zacks Research raised Crescent Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th.

Crescent Energy Trading Up 0.0%

NYSE:CRGY opened at $13.76 on Friday. The company has a market cap of $5.81 billion, a PE ratio of -275.04 and a beta of 1.60. 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 12 month low of $7.68 and a 12 month high of $15.47. The company has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $11.93.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The business's quarterly revenue was up 55.3% compared to the same quarter last year. Research analysts forecast that Crescent Energy will post 2.24 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, August 17th. Crescent Energy's payout ratio is currently -960.00%.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors have recently bought and sold shares of CRGY. McAlvany Wealth Management LLC boosted its stake in Crescent Energy by 13.5% during the third quarter. McAlvany Wealth Management LLC now owns 264,258 shares of the company's stock worth $3,406,000 after buying an additional 31,412 shares during the period. Welch Group LLC increased its position in Crescent Energy by 10.5% during the third quarter. Welch Group LLC now owns 53,472 shares of the company's stock valued at $689,000 after acquiring an additional 5,076 shares during the last quarter. Profund Advisors LLC increased its position in Crescent Energy by 13.7% during the third quarter. Profund Advisors LLC now owns 13,374 shares of the company's stock valued at $172,000 after acquiring an additional 1,614 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Crescent Energy by 8.6% in the third quarter. ProShare Advisors LLC now owns 40,094 shares of the company's stock valued at $517,000 after acquiring an additional 3,186 shares during the period. Finally, Vise Technologies Inc. raised its stake in shares of Crescent Energy by 376.2% in the third quarter. Vise Technologies Inc. now owns 60,041 shares of the company's stock valued at $774,000 after acquiring an additional 47,432 shares during the period. Institutional investors own 52.11% of the company's stock.

Crescent Energy Company Profile

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company's portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.

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