Crescent Energy (NYSE:CRGY) Trading Down 6.6% – Should You Sell?

Crescent Energy Company (NYSE:CRGY) fell 6.6% during trading on Monday . The company traded as low as $10.50 and last traded at $10.5250. Approximately 4,949,730 shares were traded during mid-day trading, a decline of 32% from the average session volume of 7,261,333 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRGY. UBS Group began coverage on Crescent Energy in a research report on Tuesday, July 14th. They issued a “buy” rating and a $13.00 price target for the company. KeyCorp restated an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a research note on Thursday, June 11th. Weiss Ratings lowered shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Mizuho lifted their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Crescent Energy currently has an average rating of “Moderate Buy” and an average target price of $15.58.

Crescent Energy Stock Down 7.1%

The company has a 50 day moving average price of $11.06 and a two-hundred day moving average price of $11.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $3.46 billion, a PE ratio of -13.97 and a beta of 1.40.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $0.57 earnings per share. Crescent Energy’s revenue was up 24.5% compared to the same quarter last year. Analysts expect that Crescent Energy Company will post 1.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 4.6%. Crescent Energy’s dividend payout ratio is currently -64.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new stake in Crescent Energy in the 1st quarter worth approximately $32,000. Fifth Third Bancorp lifted its holdings in shares of Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after buying an additional 2,286 shares during the period. Quarry LP boosted its stake in shares of Crescent Energy by 303.5% in the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after buying an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.