Crescent Energy (NYSE:CRGY) Sets New 12-Month High – What’s Next?

Crescent Energy (NYSE:CRGY)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $15.70 and last traded at $15.61, with a volume of 1418977 shares trading hands. The stock had previously closed at $15.37.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Mizuho raised their price objective on shares of Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. began coverage on Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price on the stock. Raymond James upped their target price on Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Wells Fargo & Company cut their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Pickering Energy Partners initiated coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy currently has an average rating of “Buy” and an average price target of $16.80.

Crescent Energy Stock Up 2.2 %

The firm has a 50-day simple moving average of $14.08 and a 200 day simple moving average of $12.56. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $3.59 billion, a PE ratio of 25.34 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data 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 company had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter last year, the firm posted $0.35 earnings per share. On average, research analysts predict that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Monday, November 18th. Crescent Energy’s payout ratio is 77.42%.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently modified their holdings of CRGY. Allspring Global Investments Holdings LLC bought a new stake in Crescent Energy during the second quarter valued at $32,000. Farther Finance Advisors LLC lifted its holdings in Crescent Energy by 15,675.0% in the third 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 during the last quarter. Amalgamated Bank boosted its stake in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares during the period. GAMMA Investing LLC grew its holdings in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Crescent Energy during the 3rd quarter worth $121,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.