Crescent Energy (NYSE:CRGY) Receives Average Rating of “Buy” from Brokerages

Shares of Crescent Energy (NYSE:CRGY) have received an average recommendation of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.56.

A number of equities analysts have recently commented on the company. Mizuho lifted their target price on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Tudor, Pickering, Holt & Co. initiated coverage on Crescent Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price target for the company. KeyCorp initiated coverage on Crescent Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $16.00 target price on the stock. Wells Fargo & Company boosted their target price on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, March 5th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRGY. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 94.1% during the third quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock valued at $96,585,000 after acquiring an additional 3,705,389 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Crescent Energy during the fourth quarter valued at about $1,393,000. Northside Capital Management LLC acquired a new stake in shares of Crescent Energy during the first quarter valued at about $4,453,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Crescent Energy by 21.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock valued at $22,042,000 after acquiring an additional 291,990 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Crescent Energy during the third quarter valued at about $6,320,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Down 0.4 %

NYSE CRGY opened at $11.81 on Tuesday. The stock’s 50-day moving average price is $11.86 and its 200-day moving average price is $11.65. The company has a market capitalization of $2.09 billion, a P/E ratio of -59.02 and a beta of 2.32. Crescent Energy has a 52 week low of $9.74 and a 52 week high of $14.22. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.28. The company had revenue of $657.47 million for the quarter, compared to the consensus estimate of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. On average, equities research analysts predict that Crescent Energy will post 1.65 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Monday, May 20th. Crescent Energy’s payout ratio is currently -239.99%.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.