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

Crescent Energy (NYSE:CRGY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $16.30.

A number of research firms have recently weighed in on CRGY. Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating for the company. Stephens reiterated an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. KeyCorp dropped their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Raymond James restated a "strong-buy" rating and set a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Wells Fargo & Company dropped their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, March 24th.

Crescent Energy Stock Performance

NYSE:CRGY opened at $8.62 on Friday. The stock has a fifty day moving average price of $9.12 and a 200-day moving average price of $12.50. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 13.90 and a beta of 1.86. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The firm had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. As a group, equities analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $0.12 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.57%. Crescent Energy's dividend payout ratio is presently -106.67%.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Duginski purchased 20,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $10.57 per share, with a total value of $211,400.00. Following the purchase, the director now owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This trade represents a 8.35% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently made changes to their positions in CRGY. Barclays PLC increased its stake in shares of Crescent Energy by 579.6% in the third quarter. Barclays PLC now owns 241,137 shares of the company's stock valued at $2,641,000 after buying an additional 205,657 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy in the fourth quarter valued at about $131,000. Pacer Advisors Inc. acquired a new stake in shares of Crescent Energy in the fourth quarter valued at about $170,905,000. DAVENPORT & Co LLC increased its stake in shares of Crescent Energy by 9.9% in the fourth quarter. DAVENPORT & Co LLC now owns 89,000 shares of the company's stock valued at $1,300,000 after buying an additional 8,000 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock valued at $69,914,000 after buying an additional 3,354,362 shares during the period. Institutional investors and hedge funds 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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