Crescent Energy’s (CRGY) Outperform Rating Reaffirmed at Evercore ISI

Evercore ISI reaffirmed their outperform rating on shares of Crescent Energy (NYSE:CRGY) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a $17.00 target price on the stock.

CRGY has been the subject of a number of other research reports. KeyCorp initiated coverage on Crescent Energy in a research note on Thursday, June 27th. They issued an overweight rating and a $16.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a report on Wednesday, September 18th. They set a neutral rating and a $12.00 target price for the company. Mizuho cut their price target on shares of Crescent Energy from $14.00 to $13.00 and set a neutral rating on the stock in a report on Monday, September 16th. Stephens restated an overweight rating and set a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Finally, Wolfe Research assumed coverage on shares of Crescent Energy in a report on Thursday, July 18th. They issued an outperform rating and a $16.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $16.36.

Crescent Energy Trading Up 2.2 %

Crescent Energy stock opened at $11.68 on Tuesday. Crescent Energy has a one year low of $9.88 and a one year high of $13.85. The stock has a market cap of $2.07 billion, a PE ratio of -58.40 and a beta of 2.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a 50-day moving average of $11.30 and a two-hundred day moving average of $11.59.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The company had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. On average, research analysts anticipate that Crescent Energy will post 1.31 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Monday, August 19th. Crescent Energy’s payout ratio is currently -240.00%.

Insider Activity at Crescent Energy

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the transaction, the director now owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 12,294 shares of company stock worth $131,297 in the last 90 days. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRGY. Jackson Creek Investment Advisors LLC raised its position in shares of Crescent Energy by 1.0% during the 2nd quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after purchasing an additional 883 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Crescent Energy by 8.5% during the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after acquiring an additional 1,085 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Crescent Energy by 5.1% during the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock valued at $366,000 after acquiring an additional 1,503 shares during the last quarter. CWM LLC lifted its position in shares of Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Crescent Energy in the second quarter worth approximately $32,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

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.