Crescent Energy (NYSE:CRGY) Given New $16.00 Price Target at Piper Sandler

Crescent Energy (NYSE:CRGY) had its price target hoisted by Piper Sandler from $14.00 to $16.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets started coverage on Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. Wells Fargo & Company decreased their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Evercore initiated coverage on Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price for the company. William Blair restated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. Finally, Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Crescent Energy Trading Down 1.7%

Shares of NYSE CRGY opened at $11.75 on Thursday. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $12.40. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 22.59 and a beta of 1.57. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average is $9.82 and its 200-day moving average is $9.19.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. Equities research analysts predict that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, March 11th. Crescent Energy’s payout ratio is 92.31%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. CM Management LLC acquired a new position in Crescent Energy during the 3rd quarter worth approximately $1,561,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Crescent Energy in the third quarter valued at approximately $1,034,000. Public Sector Pension Investment Board raised its holdings in shares of Crescent Energy by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock valued at $6,467,000 after purchasing an additional 98,428 shares during the last quarter. Kore Advisors LP lifted its position in shares of Crescent Energy by 17.0% in the second quarter. Kore Advisors LP now owns 1,479,256 shares of the company’s stock worth $12,722,000 after purchasing an additional 214,939 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its position in shares of Crescent Energy by 346.3% in the second quarter. Capital Fund Management S.A. now owns 439,593 shares of the company’s stock worth $3,780,000 after purchasing an additional 341,101 shares in the last quarter. 52.11% of the stock is currently owned by 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.