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

Key Points

• Crescent Energy Company (NYSE:CRGY) received an average recommendation of "Moderate Buy" from fourteen brokerages, with two sell ratings and one strong buy rating among them.
• The company recently declared a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 5.8%, although its dividend payout ratio stands at -266.67%.
• Crescent Energy's stock opened at $8.24 on Monday and has a market cap of $2.10 billion, with a 12-month price range of $6.83 to $16.94.

Crescent Energy Company (NYSE:CRGY - Get Free Report) has been given an average rating of "Moderate Buy" by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.2222.

A number of analysts have commented on CRGY shares. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Mizuho cut their price target on shares of Crescent Energy from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $15.00 and set an "overweight" rating for the company in a report on Friday. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Crescent Energy in a report on Wednesday, October 8th.

Crescent Energy Stock Down 2.0%

CRGY stock opened at $8.24 on Monday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -45.78 and a beta of 1.89. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The firm has a 50-day moving average of $9.03 and a two-hundred day moving average of $8.86.

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

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.8%. Crescent Energy's dividend payout ratio (DPR) is currently -266.67%.

Institutional Trading of Crescent Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CRGY. State of Alaska Department of Revenue boosted its position in shares of Crescent Energy by 2.1% during the 1st quarter. State of Alaska Department of Revenue now owns 101,342 shares of the company's stock worth $1,139,000 after purchasing an additional 2,082 shares during the period. Innealta Capital LLC boosted its position in shares of Crescent Energy by 47.5% during the 1st quarter. Innealta Capital LLC now owns 14,908 shares of the company's stock worth $168,000 after purchasing an additional 4,798 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Crescent Energy by 25.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 102,704 shares of the company's stock worth $1,154,000 after purchasing an additional 20,954 shares during the period. KBC Group NV purchased a new position in shares of Crescent Energy during the 1st quarter worth approximately $117,000. Finally, Amalgamated Bank boosted its position in shares of Crescent Energy by 3.0% during the 1st quarter. Amalgamated Bank now owns 51,467 shares of the company's stock worth $578,000 after purchasing an additional 1,506 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock.

About Crescent Energy

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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