Crescent Energy (NYSE:CRGY) Reaches New 52-Week High - Should You Buy?

Key Points

• Reached new 52-week high: Shares traded as high as $12.99 (last $12.9920) on the day, up about 4.3% on ~884k shares, with a market cap around $4.27 billion.
• Analyst sentiment: MarketBeat shows a consensus "Moderate Buy" with an average price target of $13.78 (one Strong Buy, six Buy, five Hold), and JPMorgan upgraded to "Overweight" with a $19 target.
• Financials & dividend: Q4 EPS beat at $0.49 vs. $0.30 expected while revenue slightly missed, and the company announced a $0.12 quarterly dividend (annualized yield ~3.7%) with a payout ratio near 92%.

Crescent Energy Company (NYSE:CRGY - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $12.99 and last traded at $12.9920, with a volume of 883967 shares. The stock had previously closed at $12.50.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of Crescent Energy from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, February 27th. Zacks Research raised shares of Crescent Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 20th. Mizuho raised their price objective on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday, December 12th. JPMorgan Chase & Co. upgraded shares of Crescent Energy from a "neutral" rating to an "overweight" rating and set a $19.00 price objective for the company in a research note on Friday. Finally, Jefferies Financial Group reissued a "hold" rating and set a $9.00 target price on shares of Crescent Energy in a report on Sunday, January 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Crescent Energy presently has a consensus rating of "Moderate Buy" and an average price target of $13.78.

Crescent Energy Stock Up 4.3%

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 cap of $4.27 billion, a P/E ratio of 25.01 and a beta of 1.57. The stock's fifty day moving average is $10.40 and its two-hundred day moving average is $9.32.

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, beating analysts' consensus estimates of $0.30 by $0.19. The firm had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. As a group, research analysts anticipate that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, March 11th. Crescent Energy's payout ratio is presently 92.31%.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently modified their holdings of CRGY. Caitlin John LLC purchased a new position in shares of Crescent Energy during the third quarter worth about $27,000. Nisa Investment Advisors LLC raised its stake in Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company's stock valued at $33,000 after purchasing an additional 1,241 shares in the last quarter. Fifth Third Bancorp raised its stake in Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company's stock valued at $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company's stock valued at $33,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Quarry LP grew its stake in Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company's stock worth $37,000 after buying an additional 3,123 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

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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