Brokerages Set Crescent Energy Company (NYSE:CRGY) PT at $16.00

Crescent Energy Company (NYSE:CRGY - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

A number of research firms have recently weighed in on CRGY. Piper Sandler assumed coverage on Crescent Energy in a report on Monday, June 9th. They set an "overweight" rating and a $14.00 price target for the company. Williams Trading set a $16.00 price objective on Crescent Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Mizuho cut their price target on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th.

Crescent Energy Trading Down 0.3%

Shares of CRGY stock traded down $0.03 on Tuesday, hitting $9.50. 1,645,670 shares of the stock traded hands, compared to its average volume of 3,398,614. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.78 and a current ratio of 0.78. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $16.94. The firm's 50-day moving average price is $8.73 and its two-hundred day moving average price is $11.79. The stock has a market capitalization of $2.42 billion, a PE ratio of -21.07 and a beta of 1.75.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. As a group, analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Monday, May 19th. Crescent Energy's dividend payout ratio is presently -106.67%.

Institutional Trading of Crescent Energy

A number of large investors have recently made changes to their positions in CRGY. Voya Investment Management LLC grew its stake in shares of Crescent Energy by 34.7% during the first quarter. Voya Investment Management LLC now owns 155,759 shares of the company's stock worth $1,751,000 after purchasing an additional 40,159 shares in the last quarter. Rhumbline Advisers increased its position in Crescent Energy by 3.0% during the first quarter. Rhumbline Advisers now owns 500,087 shares of the company's stock worth $5,621,000 after buying an additional 14,612 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crescent Energy by 32.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company's stock valued at $2,748,000 after buying an additional 59,199 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Crescent Energy by 7.6% in the first quarter. Empowered Funds LLC now owns 1,046,469 shares of the company's stock valued at $11,762,000 after acquiring an additional 73,744 shares during the period. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Crescent Energy during the first quarter worth approximately $256,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

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.