Crescent Energy (NYSE:CRGY) Price Target Raised to $16.00

Crescent Energy (NYSE:CRGY) had its target price hoisted by Mizuho from $15.00 to $16.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on CRGY. Raymond James Financial reissued a “strong-buy” rating and set a $19.00 price target on shares of Crescent Energy in a research report on Monday. Morgan Stanley lowered Crescent Energy to an “underweight” rating in a research note on Monday. KeyCorp reissued an “overweight” rating and set a $19.00 target price on shares of Crescent Energy in a research report on Thursday, June 11th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Stephens lifted their price target on shares of Crescent Energy from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.83.

Crescent Energy Stock Performance

NYSE:CRGY opened at $11.30 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.00. The company has a market cap of $3.73 billion, a P/E ratio of -225.97 and a beta of 1.41. Crescent Energy has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The firm’s 50 day moving average is $10.72 and its two-hundred day moving average is $11.38.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The firm’s quarterly revenue was up 55.3% compared to the same quarter last year. Analysts expect that Crescent Energy will post 1.8 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, August 17th. Crescent Energy’s payout ratio is currently -960.00%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Crescent Energy by 16.1% during the 1st quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock valued at $662,000 after buying an additional 8,173 shares during the period. AQR Capital Management LLC boosted its holdings in Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after acquiring an additional 1,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Crescent Energy by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock valued at $1,109,000 after acquiring an additional 6,184 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Crescent Energy by 32.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock valued at $2,748,000 after purchasing an additional 59,199 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.