Crescent Energy Company (NYSE:CRGY) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Crescent Energy Company has received a consensus rating of "Moderate Buy" from twelve analysts, with an average 12-month price target of $16.10.
• Recent quarterly earnings exceeded expectations, with the company reporting $0.43 earnings per share against a consensus estimate of $0.23.
• Crescent Energy announced a quarterly dividend of $0.12 per share, reflecting a 5.1% yield, despite a negative dividend payout ratio of -106.67%.

Shares of Crescent Energy Company (NYSE:CRGY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $16.10.

A number of equities research analysts have commented on the company. Mizuho decreased their price target on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Piper Sandler increased their price target on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, KeyCorp decreased their price target on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, April 21st.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bryce Point Capital LLC grew its holdings in Crescent Energy by 715.6% during the second quarter. Bryce Point Capital LLC now owns 83,927 shares of the company's stock worth $722,000 after acquiring an additional 73,637 shares during the period. Keybank National Association OH grew its holdings in Crescent Energy by 12.9% during the second quarter. Keybank National Association OH now owns 38,563 shares of the company's stock worth $332,000 after acquiring an additional 4,410 shares during the period. Peregrine Capital Management LLC grew its holdings in Crescent Energy by 10.4% during the second quarter. Peregrine Capital Management LLC now owns 440,947 shares of the company's stock worth $3,792,000 after acquiring an additional 41,423 shares during the period. Teacher Retirement System of Texas grew its holdings in Crescent Energy by 12.0% during the second quarter. Teacher Retirement System of Texas now owns 28,860 shares of the company's stock worth $248,000 after acquiring an additional 3,092 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in Crescent Energy by 208.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 60,849 shares of the company's stock worth $523,000 after acquiring an additional 41,091 shares during the period. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Trading Up 5.3%

Shares of NYSE CRGY opened at $9.35 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $2.39 billion, a P/E ratio of -51.94 and a beta of 1.86. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $16.94. The business has a fifty day moving average price of $9.03 and a 200 day moving average price of $10.43.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. The firm had revenue of $897.98 million during the quarter, compared to analysts' expectations of $868.34 million. Crescent Energy had a return on equity of 14.87% and a net margin of 0.67%. Equities research analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, August 18th. Crescent Energy's dividend payout ratio (DPR) is -106.67%.

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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