KeyCorp Begins Coverage on Crescent Energy (NYSE:CRGY)

KeyCorp assumed coverage on shares of Crescent Energy (NYSE:CRGY) in a report released on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $16.00 price objective on the stock.

Several other equities analysts have also issued reports on CRGY. Tudor, Pickering, Holt & Co. began coverage on Crescent Energy in a report on Wednesday, April 10th. They set a buy rating and a $18.00 price objective on the stock. Wells Fargo & Company raised their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Mizuho increased their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Stephens reiterated an overweight rating and set a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, March 5th. Finally, Truist Financial increased their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of Buy and a consensus price target of $16.56.

Crescent Energy Stock Performance

NYSE:CRGY opened at $11.85 on Thursday. The firm has a market capitalization of $2.10 billion, a PE ratio of -59.25 and a beta of 2.20. The business’s fifty day moving average price is $11.84 and its 200 day moving average price is $11.65. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Crescent Energy has a 12 month low of $9.74 and a 12 month high of $14.22.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.18 by $0.28. The firm had revenue of $657.47 million for the quarter, compared to analyst estimates of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. On average, sell-side analysts anticipate that Crescent Energy will post 1.65 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

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

Institutional Investors Weigh In On Crescent Energy

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after purchasing an additional 2,934 shares during the last quarter. Amalgamated Bank boosted its holdings 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 acquiring an additional 2,748 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Crescent Energy in the fourth quarter valued at $136,000. Raymond James Financial Services Advisors Inc. acquired a new position in Crescent Energy in the fourth quarter valued at $139,000. Finally, Carson Advisory Inc. acquired a new position in Crescent Energy in the fourth quarter valued at $144,000. 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.