Crescent Energy (NYSE:CRGY) Hits New 1-Year High – Time to Buy?

Shares of Crescent Energy Company (NYSE:CRGY) hit a new 52-week high during trading on Thursday . The stock traded as high as $14.60 and last traded at $14.3320, with a volume of 221751 shares traded. The stock had previously closed at $14.24.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRGY shares. Morgan Stanley lowered shares of Crescent Energy to an “underweight” rating in a report on Monday, August 3rd. KeyCorp restated an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a report on Thursday, June 11th. Mizuho increased their target price on Crescent Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, UBS Group boosted their price target on Crescent Energy from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.92.

Crescent Energy Trading Up 0.5%

The firm’s 50 day simple moving average is $11.83 and its 200-day simple moving average is $12.01. The company has a market capitalization of $4.73 billion, a PE ratio of -285.68 and a beta of 1.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.00.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The business’s quarterly revenue was up 55.3% on a year-over-year basis. As a group, equities research analysts anticipate that Crescent Energy Company will post 2.07 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.48 annualized dividend and a yield of 3.4%. Crescent Energy’s dividend payout ratio (DPR) is -960.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CRGY. Kohlberg Kravis Roberts & Co. L.P. boosted its position in shares of Crescent Energy by 7.1% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock worth $386,847,000 after buying an additional 1,897,230 shares during the period. Dimensional Fund Advisors LP lifted its position in Crescent Energy by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock worth $177,810,000 after acquiring an additional 298,818 shares in the last quarter. State Street Corp lifted its position in Crescent Energy by 27.6% during the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock worth $107,464,000 after acquiring an additional 2,767,096 shares in the last quarter. Geode Capital Management LLC lifted its position in Crescent Energy by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock worth $46,935,000 after acquiring an additional 1,256,114 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Crescent Energy by 77.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock worth $42,836,000 after acquiring an additional 2,234,324 shares during the period. Institutional investors and hedge funds 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.