Crescent Energy (NYSE:CRGY) Receives $16.38 Average PT from Brokerages

Shares of Crescent Energy (NYSE:CRGYGet Free Report) have earned a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of analysts have recently commented on CRGY shares. Raymond James cut their price target on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial dropped their target price on Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Wells Fargo & Company upped their target price on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, March 5th. Finally, Mizuho upped their target price on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 13th.

Check Out Our Latest Report on CRGY

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $12.02 on Monday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -60.10 and a beta of 2.29. The stock’s 50-day moving average is $11.41 and its 200-day moving average is $11.48. Crescent Energy has a one year low of $9.17 and a one year high of $14.22. 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 (NYSE:CRGYGet Free Report) last issued its quarterly 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. The company had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. Equities analysts predict that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Monday, May 20th. Crescent Energy’s payout ratio is -239.99%.

Insider Activity

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

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Yaupon Capital Management LP acquired a new stake in Crescent Energy during the first quarter worth approximately $10,710,000. Zimmer Partners LP acquired a new stake in Crescent Energy during the first quarter worth approximately $17,731,000. California State Teachers Retirement System grew its position in Crescent Energy by 11.3% during the first quarter. California State Teachers Retirement System now owns 91,622 shares of the company’s stock worth $1,090,000 after buying an additional 9,289 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Crescent Energy by 63.0% during the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock worth $18,930,000 after buying an additional 614,969 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Crescent Energy during the first quarter worth approximately $145,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Company Profile

(Get Free Report

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.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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