Crescent Energy (NYSE:CRGY) Receives $16.40 Consensus PT from Brokerages

Shares of Crescent Energy (NYSE:CRGY) have earned a consensus rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.40.

Several analysts have recently commented on CRGY shares. Wells Fargo & Company raised their price target on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Mizuho raised their price target on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Truist Financial reduced their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp assumed coverage on Crescent Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Tudor, Pickering, Holt & Co. assumed coverage on Crescent Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $18.00 price objective for the company.

Crescent Energy Trading Down 9.4 %

Shares of CRGY stock opened at $10.81 on Friday. The business’s 50 day moving average is $12.10 and its two-hundred day moving average is $11.58. Crescent Energy has a twelve month low of $10.11 and a twelve month high of $14.22. The company has a market capitalization of $1.92 billion, a P/E ratio of -54.05 and a beta of 2.32. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Crescent Energy (NYSE:CRGY) last posted its quarterly 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 business had revenue of $657.47 million during the quarter, compared to analysts’ expectations of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. Equities analysts forecast that Crescent Energy will post 1.53 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.44%. Crescent Energy’s dividend payout ratio (DPR) is -239.99%.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors have recently made changes to their positions in CRGY. CWM LLC raised its holdings in shares of Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy in the second quarter valued at $32,000. Spirit of America Management Corp NY purchased a new stake in shares of Crescent Energy in the second quarter valued at $36,000. GAMMA Investing LLC grew its position in shares of 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 during the period. Finally, Amalgamated Bank grew its position in shares of 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 during the period. 52.11% of the stock is owned by institutional investors and hedge funds.

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.