Analysts Set Crescent Energy (NYSE:CRGY) PT at $17.20

Crescent Energy (NYSE:CRGYGet Free Report) has been assigned an average rating of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $17.20.

A number of research firms have issued reports on CRGY. Evercore ISI reiterated an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, September 24th. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Wells Fargo & Company reduced their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Mizuho boosted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Truist Financial boosted their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

View Our Latest Report on Crescent Energy

Crescent Energy Price Performance

NYSE CRGY opened at $16.66 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $3.80 billion, a PE ratio of 26.86 and a beta of 2.17. The company has a 50 day moving average price of $14.75 and a two-hundred day moving average price of $12.86. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94.

Crescent Energy (NYSE:CRGYGet Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The firm had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, equities analysts predict that Crescent Energy will post 0.9 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in shares of Crescent Energy by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock worth $553,000 after purchasing an additional 897 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Crescent Energy during the 4th quarter worth about $312,000. GAMMA Investing LLC lifted its position in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after buying an additional 1,621 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Crescent Energy by 14.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock worth $362,000 after buying an additional 4,102 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Crescent Energy during the 3rd quarter worth about $430,000. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

(Get Free Report

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.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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