Shares of Crescent Energy Company (NYSE:CRGY - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $12.12 and traded as high as $12.19. Crescent Energy shares last traded at $12.1450, with a volume of 4,157,564 shares changing hands.
Analyst Upgrades and Downgrades
CRGY has been the subject of a number of analyst reports. Evercore reaffirmed an "outperform" rating on shares of Crescent Energy in a research report on Wednesday, October 14th. Mizuho boosted their target price on Crescent Energy from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Wells Fargo & Company upped their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Wall Street Zen raised shares of Crescent Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 19th. Finally, Truist Financial increased their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.21.
View Our Latest Research Report on CRGY
Crescent Energy Trading Up 0.9%
The company's 50 day moving average price is $13.24 and its two-hundred day moving average price is $12.12. The firm has a market cap of $5.13 billion, a PE ratio of -606.95 and a beta of 1.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.92.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.18. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.24 billion. Crescent Energy had a return on equity of 13.43% and a net margin of 1.30%. As a group, sell-side analysts forecast that Crescent Energy Company will post 2.21 EPS for the current year.
Crescent Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, November 16th. This represents a $0.48 dividend on an annualized basis and a yield of 4.0%. Crescent Energy's dividend payout ratio (DPR) is presently -2,400.00%.
Hedge Funds Weigh In On Crescent Energy
A number of hedge funds have recently added to or reduced their stakes in CRGY. Empowered Funds LLC grew its stake in Crescent Energy by 12.9% in the third quarter. Empowered Funds LLC now owns 1,646,504 shares of the company's stock worth $21,223,000 after purchasing an additional 187,507 shares in the last quarter. Caxton Associates LLP purchased a new position in Crescent Energy in the third quarter worth $562,000. Bleakley Financial Group LLC acquired a new position in Crescent Energy during the 3rd quarter valued at about $326,000. First Trust Advisors LP increased its stake in Crescent Energy by 50.0% during the 3rd quarter. First Trust Advisors LP now owns 2,361,519 shares of the company's stock valued at $30,440,000 after purchasing an additional 787,413 shares in the last quarter. Finally, Advisors Asset Management Inc. acquired a new stake in Crescent Energy during the 3rd quarter worth about $2,050,000. 52.11% of the stock is currently owned by institutional investors.
Crescent Energy Company Profile
(
Get Free Report)
Crescent Energy Company is an independent energy company focused on acquiring, developing and producing oil and natural gas from onshore properties in the United States. Its operations include exploration and production, supported by activities to manage and develop its portfolio of energy assets. The company was formed in 2021 through the combination of Contango Oil & Gas and Independence Energy. Its portfolio includes properties in the Eagle Ford region of Texas and other U.S. producing basins.
Further Reading
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