Crescent Energy (NYSE:CRGY) Stock Falls 5.8% - Should You Sell?

Key Points

• Crescent Energy shares fell 5.8% to about $12.69 in mid-day trading, with volume down 77% from the average session.
• Despite the decline, analysts maintain a generally positive view: the stock has a consensus “Moderate Buy” rating and a target price of $17.08.
• The company reported stronger-than-expected quarterly results, with EPS of $0.69 versus the $0.59 estimate and revenue up 55.3% year over year; it also pays a quarterly dividend of $0.12 per share, yielding about 3.7%.

Crescent Energy Company (NYSE:CRGY - Get Free Report)'s stock price was down 5.8% during mid-day trading on Thursday. The company traded as low as $12.82 and last traded at $12.6910. 1,581,296 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 6,868,702 shares. The stock had previously closed at $13.47.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Crescent Energy from a "sell (d)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Crescent Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 19th. Mizuho upped their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Stephens increased their price target on shares of Crescent Energy from $17.00 to $18.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Zacks Research upgraded Crescent Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.08.

Crescent Energy Trading Down 4.3%

The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.94. The business's fifty day simple moving average is $13.20 and its 200 day simple moving average is $12.31. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -257.85 and a beta of 1.60.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy's revenue was up 55.3% on a year-over-year basis. On average, research analysts predict that Crescent Energy Company will post 2.56 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, August 17th. Crescent Energy's dividend payout ratio is presently -960.00%.

Institutional Investors Weigh In On Crescent Energy

Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its stake in Crescent Energy by 29.0% during the 1st quarter. First Trust Advisors LP now owns 1,542,176 shares of the company's stock valued at $20,819,000 after purchasing an additional 346,242 shares during the period. Kohlberg Kravis Roberts & Co. L.P. increased its position in Crescent Energy by 7.1% in the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company's stock valued at $386,847,000 after acquiring an additional 1,897,230 shares during the period. Bank of America Corp DE boosted its position in Crescent Energy by 308.2% during the 1st quarter. Bank of America Corp DE now owns 3,056,820 shares of the company's stock worth $41,267,000 after acquiring an additional 2,307,971 shares during the period. Jennison Associates LLC grew its stake in shares of Crescent Energy by 74.1% in the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company's stock worth $57,435,000 after purchasing an additional 1,810,225 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Crescent Energy during the second quarter valued at about $1,762,000. 52.11% of the stock is owned by institutional investors and hedge funds.

About Crescent Energy

Crescent Energy Company is an independent, U.S.-based energy company engaged in the acquisition, development, and operation of oil and natural gas properties. Its production portfolio includes crude oil, natural gas, and natural gas liquids, with an emphasis on established assets that offer ongoing development opportunities.

The company's operations are concentrated in several major U.S. onshore producing regions, including the Eagle Ford, the Uinta Basin, and other assets across the Rocky Mountain and central United States.

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