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

Key Points

• Analysts give Crescent Energy a consensus "Moderate Buy" rating (13 firms: 4 hold, 7 buy, 2 strong buy) with an average 1‑year price target of $14.80.
• Several major firms recently raised targets and ratings—most notably KeyCorp and JPMorgan upgraded Crescent to overweight and set price targets of $19.
• Crescent posted an EPS beat (quarterly EPS $0.49 vs. $0.30 est.) and pays a quarterly dividend of $0.12 (annualized yield ~3.8%) with a high payout ratio (~92.31%).

Shares of Crescent Energy Company (NYSE:CRGY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.80.

CRGY has been the topic of a number of research analyst reports. KeyCorp raised their price target on Crescent Energy from $15.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. raised Crescent Energy from a "neutral" rating to an "overweight" rating and set a $19.00 price target on the stock in a research report on Friday, March 20th. Piper Sandler raised their price target on Crescent Energy from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Wells Fargo & Company raised their price target on Crescent Energy from $13.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 17th. Finally, William Blair reaffirmed an "outperform" rating on shares of Crescent Energy in a research report on Friday, March 6th.

Crescent Energy Trading Down 0.1%

NYSE:CRGY opened at $12.73 on Monday. Crescent Energy has a 1-year low of $7.28 and a 1-year high of $14.02. The business's 50-day moving average price is $11.66 and its two-hundred day moving average price is $9.77. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 24.47 and a beta of 1.55.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.19. The company had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. On average, equities analysts expect that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.8%. Crescent Energy's dividend payout ratio (DPR) is currently 92.31%.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds have recently modified their holdings of CRGY. Vanguard Group Inc. grew its holdings in shares of Crescent Energy by 34.6% during the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company's stock worth $228,981,000 after buying an additional 7,015,982 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Crescent Energy by 775.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company's stock worth $27,714,000 after buying an additional 2,925,780 shares in the last quarter. State Street Corp grew its holdings in shares of Crescent Energy by 27.6% during the fourth quarter. State Street Corp now owns 12,808,605 shares of the company's stock worth $107,464,000 after buying an additional 2,767,096 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Crescent Energy by 77.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company's stock worth $42,836,000 after buying an additional 2,234,324 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Crescent Energy by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company's stock worth $107,999,000 after buying an additional 2,213,352 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Company Profile

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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