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

Key Points

• Crescent Energy has a consensus analyst rating of “Moderate Buy” from 15 brokerages, with an average 12-month price target of about $15.58.
• The company recently beat quarterly earnings estimates, reporting $0.53 EPS versus expectations of $0.39, while revenue of $1.18 billion also came in above forecasts.
• Crescent Energy pays a quarterly dividend of $0.12 per share, equal to an annualized yield of about 4.4%, and its stock was trading near $11.02 with a 52-week range of $7.68 to $14.29.

Crescent Energy Company (NYSE:CRGY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.5833.

A number of equities analysts have commented on CRGY shares. UBS Group began coverage on shares of Crescent Energy in a report on Tuesday, July 14th. They issued a "buy" rating and a $13.00 price objective for the company. Stephens reaffirmed an "overweight" rating and issued a $18.00 target price on shares of Crescent Energy in a research report on Tuesday, May 5th. Raymond James Financial decreased their price objective on Crescent Energy from $20.00 to $18.00 and set a "strong-buy" rating for the company in a report on Thursday, June 18th. Johnson Rice restated an "accumulate" rating and issued a $19.00 target price on shares of Crescent Energy in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company lifted their target price on Crescent Energy from $14.00 to $18.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd.

Institutional Investors Weigh In On Crescent Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kohlberg Kravis Roberts & Co. L.P. grew its position in Crescent Energy by 7.1% in the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company's stock valued at $386,847,000 after buying an additional 1,897,230 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Crescent Energy by 34.6% during the 4th 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. Dimensional Fund Advisors LP lifted its stake in shares of Crescent Energy by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company's stock worth $177,810,000 after acquiring an additional 298,818 shares during the period. State Street Corp lifted its stake in shares of Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company's stock worth $107,464,000 after acquiring an additional 2,767,096 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Crescent Energy by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company's stock valued at $46,935,000 after acquiring an additional 1,256,114 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Trading Up 5.2%

NYSE:CRGY opened at $11.02 on Wednesday. The company has a market cap of $3.64 billion, a PE ratio of -14.69 and a beta of 1.40. The business's 50 day moving average is $11.14 and its two-hundred day moving average is $11.14. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.29.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business's quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. On average, analysts predict that Crescent Energy will post 1.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy's dividend payout ratio (DPR) is -64.00%.

About Crescent Energy

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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