Crescent Energy (NYSE:CRGY) Shares Gap Down - Time to Sell?

Key Points

• Crescent Energy shares gapped down — the stock opened at $11.78 after a $12.63 close and last traded around $11.525 with about 1.12 million shares changing hands.
• Analysts have been upgrading the name, including JPMorgan to an overweight rating with a $19 target; the consensus is a "Moderate Buy" with an average price target of $14.80, above the current price.
• Company fundamentals show a quarterly EPS beat ($0.49 vs. $0.30 expected) and a $3.88B market cap, but the stock yields 4.1% with a high payout ratio (~92%) and a debt/equity of 1.07.

Crescent Energy Company (NYSE:CRGY - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $12.63, but opened at $11.78. Crescent Energy shares last traded at $11.5250, with a volume of 1,123,058 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. raised Crescent Energy from a "neutral" rating to an "overweight" rating and set a $19.00 target price for the company in a report on Friday, March 20th. Weiss Ratings raised Crescent Energy from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, February 27th. William Blair reaffirmed an "outperform" rating on shares of Crescent Energy in a report on Friday, March 6th. Wall Street Zen raised Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Finally, BMO Capital Markets started coverage on Crescent Energy in a report on Friday, January 9th. They set a "market perform" rating and a $10.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Crescent Energy has an average rating of "Moderate Buy" and an average price target of $14.80.

Crescent Energy Price Performance

The firm has a market capitalization of $3.88 billion, a P/E ratio of 22.74 and a beta of 1.55. The business has a fifty day moving average of $11.88 and a 200-day moving average of $9.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The business had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. On average, sell-side analysts forecast that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, March 11th. Crescent Energy's dividend payout ratio is 92.31%.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. lifted its position in Crescent Energy by 34.6% in the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company's stock worth $228,981,000 after purchasing an additional 7,015,982 shares during the period. American Century Companies Inc. lifted its position in Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company's stock worth $172,721,000 after purchasing an additional 1,434,789 shares during the period. Dimensional Fund Advisors LP lifted its position in Crescent Energy by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company's stock worth $107,999,000 after purchasing an additional 2,213,352 shares during the period. State Street Corp lifted its position in Crescent Energy by 27.6% in the fourth quarter. State Street Corp now owns 12,808,605 shares of the company's stock worth $107,464,000 after purchasing an additional 2,767,096 shares during the period. Finally, Geode Capital Management LLC lifted its position in Crescent Energy by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company's stock worth $46,935,000 after purchasing an additional 1,256,114 shares during the period. 52.11% of the stock is owned by institutional investors.

Crescent Energy Company Profile

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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