Crescent Energy (NYSE:CRGY) Raised to “Strong-Buy” at KeyCorp

KeyCorp upgraded shares of Crescent Energy (NYSE:CRGY) to a strong-buy rating in a research note published on Wednesday morning, Zacks.com reports.

A number of other brokerages have also issued reports on CRGY. Wells Fargo & Company boosted their price target on Crescent Energy from $19.00 to $20.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Mizuho boosted their price objective on Crescent Energy from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Tudor, Pickering, Holt & Co. started coverage on Crescent Energy in a research note on Wednesday, April 10th. They issued a buy rating and a $18.00 price objective on the stock. Stephens reissued an overweight rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, March 5th. Finally, Truist Financial boosted their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $16.56.

Crescent Energy Trading Down 0.7 %

Shares of CRGY stock opened at $11.85 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Crescent Energy has a 1 year low of $9.74 and a 1 year high of $14.22. The stock has a fifty day moving average of $11.84 and a two-hundred day moving average of $11.64. The firm has a market capitalization of $2.10 billion, a PE ratio of -59.25 and a beta of 2.20.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.28. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. The company had revenue of $657.47 million during the quarter, compared to analyst estimates of $579.44 million. As a group, research analysts expect that Crescent Energy will post 1.65 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Monday, May 20th. Crescent Energy’s payout ratio is -239.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after purchasing an additional 2,934 shares in the last quarter. Amalgamated Bank grew its stake in Crescent Energy by 58.5% in the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after purchasing an additional 2,748 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Crescent Energy during the 4th quarter worth about $136,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Crescent Energy during the 4th quarter worth about $139,000. Finally, Carson Advisory Inc. bought a new stake in shares of Crescent Energy during the 4th quarter worth about $144,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.