Crescent Energy (CRGY) Scheduled to Post Earnings on Monday

Crescent Energy (NYSE:CRGY) will release its earnings data after the market closes on Monday, May 6th. Analysts expect Crescent Energy to post earnings of $0.16 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, March 4th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The company had revenue of $657.73 million for the quarter, compared to the consensus estimate of $584.12 million. On average, analysts expect Crescent Energy to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Crescent Energy Price Performance

NYSE:CRGY opened at $10.83 on Monday. Crescent Energy has a 52 week low of $9.17 and a 52 week high of $14.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.95 billion, a P/E ratio of 8.40 and a beta of 2.24. The stock’s fifty day moving average is $11.28 and its two-hundred day moving average is $11.54.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 4.43%. Crescent Energy’s dividend payout ratio is currently 37.21%.

Insiders Place Their Bets

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on CRGY. Mizuho restated a “neutral” rating and issued a $13.00 target price (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Truist Financial reduced their target price on Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Tudor, Pickering, Holt & Co. assumed coverage on Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective on the stock. TheStreet upgraded Crescent Energy from a “d” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, Wells Fargo & Company boosted their price objective on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy has an average rating of “Buy” and an average price target of $16.38.

About Crescent Energy

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.