Crescent Energy (NYSE:CRGY) Hits New 1-Year High - Time to Buy?

Key Points

• Crescent Energy shares reached a new 52-week high of $14.60, with the stock recently trading near $14.33. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $15.92, though ratings range from “Strong Buy” to “Sell.”
• The company reported quarterly adjusted earnings of $0.69 per share, exceeding estimates by $0.10, while revenue rose 55.3% year over year to $1.39 billion.
• Crescent Energy pays a quarterly dividend of $0.12, equivalent to $0.48 annually and a 3.4% yield. Institutional investors own approximately 52.1% of the company.

Shares of Crescent Energy Company (NYSE:CRGY - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $14.60 and last traded at $14.3320, with a volume of 221751 shares changing hands. The stock had previously closed at $14.24.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Crescent Energy in a report on Thursday. KeyCorp reaffirmed an "overweight" rating and issued a $19.00 price target on shares of Crescent Energy in a report on Thursday, June 11th. Finally, Morgan Stanley lowered shares of Crescent Energy to an "underweight" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Crescent Energy has a consensus rating of "Moderate Buy" and an average target price of $15.92.

Crescent Energy Stock Performance

The stock's 50-day moving average is $11.83 and its 200-day moving average is $12.01. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -285.68 and a beta of 1.45. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy's revenue for the quarter was up 55.3% compared to the same quarter last year. Analysts anticipate that Crescent Energy Company will post 2.07 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. Crescent Energy's payout ratio is currently -960.00%.

Hedge Funds Weigh In On Crescent Energy

Large investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Crescent Energy in the 1st quarter valued at about $32,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company's stock worth $33,000 after acquiring an additional 2,286 shares during the period. Quarry LP boosted its position in shares of Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company's stock worth $37,000 after acquiring an additional 3,123 shares during the last quarter. Allworth Financial LP boosted its position in shares of Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company's stock worth $40,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company's stock worth $46,000 after acquiring an additional 1,066 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other 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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