Crescent Energy (NYSE:CRGY) Stock Price Down 5.6% - Should You Sell?

Key Points

• Shares fell 5.6% intraday to $12.75 on Wednesday on unusually light trading (volume down ~86% versus average).
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy" and an average price target of $14.30, while some firms have raised targets as high as $19.
• Crescent beat EPS expectations ($0.49 vs. $0.30) but missed revenue, and it pays a quarterly dividend of $0.12 (annualized yield ~3.8%) with a high payout ratio of 92%, which could limit dividend sustainability.

Crescent Energy Company (NYSE:CRGY - Get Free Report) fell 5.6% during mid-day trading on Wednesday . The company traded as low as $12.73 and last traded at $12.75. 1,079,641 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 7,876,805 shares. The stock had previously closed at $13.50.

Analysts Set New Price Targets

Several research analysts have commented on CRGY shares. JPMorgan Chase & Co. raised shares of Crescent Energy from a "neutral" rating to an "overweight" rating and set a $19.00 price objective for the company in a report on Friday, March 20th. Mizuho boosted their target price on Crescent Energy from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, December 12th. Zacks Research raised Crescent Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 20th. Evercore assumed coverage on Crescent Energy in a report on Tuesday, December 16th. They set an "outperform" rating and a $13.00 price target for the company. Finally, Piper Sandler lifted their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $14.30.

Crescent Energy Price Performance

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's 50-day moving average price is $11.01 and its 200-day moving average price is $9.53. The stock has a market capitalization of $4.15 billion, a PE ratio of 24.32 and a beta of 1.57.

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, topping the consensus estimate of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The company had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. On average, equities analysts forecast that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.48 annualized dividend and a dividend yield of 3.8%. Crescent Energy's payout ratio is currently 92.31%.

Institutional Trading of Crescent Energy

A number of institutional investors have recently bought and sold shares of the stock. Caitlin John LLC bought a new position in Crescent Energy during the third quarter valued at $27,000. Nisa Investment Advisors LLC boosted its stake in shares of Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company's stock worth $33,000 after purchasing an additional 1,241 shares during the period. Fifth Third Bancorp boosted its stake in shares of Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company's stock worth $33,000 after purchasing an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Crescent Energy by 134.5% during the 4th 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 holdings in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company's stock valued at $37,000 after purchasing an additional 3,123 shares during the last quarter. 52.11% of the stock is currently 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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