Q4 Earnings Forecast for Crescent Energy Issued By KeyCorp

Crescent Energy (NYSE:CRGY) – Equities researchers at KeyCorp boosted their Q4 2024 earnings estimates for shares of Crescent Energy in a note issued to investors on Thursday, October 17th. KeyCorp analyst T. Rezvan now expects that the company will post earnings per share of $0.78 for the quarter, up from their previous forecast of $0.71. KeyCorp has a “Strong-Buy” rating on the stock. The consensus estimate for Crescent Energy’s current full-year earnings is $1.28 per share. KeyCorp also issued estimates for Crescent Energy’s Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.80 EPS and Q4 2025 earnings at $0.87 EPS.

Several other equities research analysts also recently issued reports on CRGY. Wolfe Research began coverage on Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target for the company. Stephens reissued an “overweight” rating and set a $20.00 target price on shares of Crescent Energy in a research note on Tuesday, August 6th. Truist Financial cut their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price target for the company. Finally, Mizuho dropped their price objective 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. 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.20.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $12.42 on Friday. The stock’s fifty day simple moving average is $11.60 and its 200 day simple moving average is $11.72. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $2.20 billion, a PE ratio of -62.10 and a beta of 2.19. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $619.00 million.

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 issued a $0.12 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.86%. Crescent Energy’s payout ratio is -240.00%.

Insider Activity at Crescent Energy

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, with a total value of $99,233.28. Following the acquisition, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders bought 12,294 shares of company stock worth $131,297. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $206,000. Creative Planning increased its stake in Crescent Energy by 37.1% in the third quarter. Creative Planning now owns 112,834 shares of the company’s stock valued at $1,236,000 after acquiring an additional 30,530 shares during the last quarter. Wedmont Private Capital acquired a new position in Crescent Energy during the third quarter valued at approximately $156,000. Heritage Wealth Management Inc. bought a new stake in Crescent Energy during the second quarter worth $1,507,000. Finally, Algert Global LLC boosted its holdings in shares of Crescent Energy by 260.4% in the 2nd quarter. Algert Global LLC now owns 320,039 shares of the company’s stock valued at $3,792,000 after purchasing an additional 231,229 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.