Crescent Energy (NYSE:CRGY) Given Average Rating of “Buy” by Analysts

Crescent Energy (NYSE:CRGY) has been assigned an average rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.80.

CRGY has been the topic of several analyst reports. Truist Financial upped their price target on shares of Crescent Energy from $16.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Stephens increased their price target on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective for the company. Mizuho lifted their target price on Crescent Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st.

Hedge Funds Weigh In On Crescent Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Jackson Creek Investment Advisors LLC lifted its holdings in Crescent Energy by 1.0% during the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after buying an additional 883 shares during the period. Amalgamated Bank lifted its stake in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Crescent Energy during the second quarter valued at about $32,000. Mackenzie Financial Corp grew its position in shares of Crescent Energy by 23.5% in the 2nd quarter. Mackenzie Financial Corp now owns 14,669 shares of the company’s stock worth $174,000 after buying an additional 2,796 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Trading Down 0.5 %

CRGY opened at $13.77 on Tuesday. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $13.79 and a 200 day moving average of $12.43. The firm has a market cap of $3.14 billion, a P/E ratio of 22.21 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, research analysts forecast that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.49%. Crescent Energy’s dividend payout ratio is currently 77.42%.

About Crescent Energy

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.