Crescent Energy Company (NYSE:CRGY) Stock Has Consensus Target Price of $17.08 According to Brokerages

Key Points

• Crescent Energy has a “Moderate Buy” consensus rating from 17 analysts, with 10 buy ratings, five holds, one sell, and one strong buy. The average 12-month price target is $17.08 versus the stock’s $13.39 opening price.
• The company exceeded quarterly expectations, reporting $0.69 in 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, equivalent to $0.48 annually and a 3.6% yield. Institutional investors own 52.11% of the company’s shares.

Crescent Energy Company (NYSE:CRGY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.08.

A number of research analysts recently issued reports on the stock. Zacks Research cut shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Truist Financial initiated coverage on Crescent Energy in a research note on Thursday, September 17th. They set a "buy" rating and a $19.00 target price for the company. UBS Group reaffirmed a "buy" rating and issued a $19.00 target price on shares of Crescent Energy in a report on Monday, September 14th. KeyCorp reiterated an "overweight" rating and issued a $19.00 price target on shares of Crescent Energy in a research note on Thursday, June 11th. Finally, Wall Street Zen raised Crescent Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 19th.

Crescent Energy Stock Down 0.0%

Shares of NYSE CRGY opened at $13.39 on Monday. The stock has a market capitalization of $4.42 billion, a P/E ratio of -267.73 and a beta of 1.60. The stock's fifty day moving average is $13.03 and its 200 day moving average is $12.28. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $15.47. 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, beating the consensus estimate of $0.59 by $0.10. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. The firm's quarterly revenue was up 55.3% on a year-over-year basis. Sell-side analysts forecast that Crescent Energy will post 2.56 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 annualized dividend and a yield of 3.6%. Crescent Energy's dividend payout ratio (DPR) is -960.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kohlberg Kravis Roberts & Co. L.P. lifted its holdings in shares of Crescent Energy by 7.1% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company's stock worth $386,847,000 after acquiring an additional 1,897,230 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Crescent Energy by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company's stock valued at $177,810,000 after purchasing an additional 298,818 shares during the last quarter. Jennison Associates LLC increased its position in Crescent Energy by 74.1% during the 1st quarter. Jennison Associates LLC now owns 4,254,407 shares of the company's stock worth $57,435,000 after purchasing an additional 1,810,225 shares in the last quarter. Cetera Investment Advisers increased its position in Crescent Energy by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 3,341,779 shares of the company's stock worth $45,114,000 after purchasing an additional 163,268 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Crescent Energy by 308.2% in the 1st quarter. Bank of America Corp DE now owns 3,056,820 shares of the company's stock valued at $41,267,000 after purchasing an additional 2,307,971 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Company Profile

Crescent Energy Company is an independent, U.S.-based energy company engaged in the acquisition, development, and operation of oil and natural gas properties. Its production portfolio includes crude oil, natural gas, and natural gas liquids, with an emphasis on established assets that offer ongoing development opportunities.

The company's operations are concentrated in several major U.S. onshore producing regions, including the Eagle Ford, the Uinta Basin, and other assets across the Rocky Mountain and central United States.

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