Crescent Energy Company (NYSE:CRGY) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Crescent Energy Company (NYSE:CRGY) has received an average rating of "Moderate Buy" from analysts, with a price target of approximately $15.67.
• The company's quarterly earnings revealed an EPS of $0.43, exceeding estimates of $0.23, along with a reported revenue of $897.98 million.
• Crescent Energy recently announced a dividend of $0.12 per share, translating to a 5.0% annual yield, although it has a negative payout ratio of -266.67%.

Shares of Crescent Energy Company (NYSE:CRGY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.6667.

Several analysts have issued reports on the stock. William Blair assumed coverage on shares of Crescent Energy in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Piper Sandler upped their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Mizuho reduced their price target on shares of Crescent Energy from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, September 15th.

Crescent Energy Stock Up 5.3%

Shares of NYSE CRGY opened at $9.57 on Thursday. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The company has a market capitalization of $2.44 billion, a PE ratio of -53.18 and a beta of 1.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The firm's 50-day moving average is $9.10 and its two-hundred day moving average is $9.15.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The company had revenue of $897.98 million for the quarter, compared to the consensus estimate of $868.34 million. Equities analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.0%. Crescent Energy's dividend payout ratio is presently -266.67%.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently modified their holdings of CRGY. Brooklyn Investment Group lifted its stake in shares of Crescent Energy by 1,110.3% during the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock valued at $28,000 after buying an additional 2,254 shares during the period. Allworth Financial LP purchased a new position in shares of Crescent Energy during the first quarter valued at approximately $34,000. Public Employees Retirement System of Ohio lifted its stake in shares of Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after buying an additional 705 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Crescent Energy by 25.2% during the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company's stock valued at $46,000 after buying an additional 1,066 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Crescent Energy by 287.3% during the second quarter. GAMMA Investing LLC now owns 9,585 shares of the company's stock valued at $82,000 after buying an additional 7,110 shares during the period. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.

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