Crescent Energy Company (NYSE:CRGY) Stock Has Consensus Target Price of $17.08

Shares of Crescent Energy Company (NYSE:CRGY) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.08.

CRGY has been the subject of a number of analyst reports. Truist Financial assumed coverage on Crescent Energy in a report on Thursday, September 17th. They set a “buy” rating and a $19.00 price objective for the company. Mizuho increased their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Morgan Stanley cut shares of Crescent Energy to an “underweight” rating in a research report on Monday, August 3rd. KeyCorp reissued an “overweight” rating and set a $19.00 price target on shares of Crescent Energy in a report on Thursday, June 11th. Finally, Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday.

Crescent Energy Trading Down 1.0%

Shares of CRGY opened at $13.48 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. The stock has a market cap of $4.46 billion, a PE ratio of -269.63 and a beta of 1.60. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $15.47. The stock has a 50 day simple moving average of $13.20 and a 200-day simple moving average of $12.31.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. The business’s quarterly revenue was up 55.3% on a year-over-year basis. On average, sell-side analysts predict that Crescent Energy will post 2.56 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.12 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.6%. Crescent Energy’s payout ratio is -960.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP bought a new stake in Crescent Energy during the 2nd quarter worth approximately $1,183,000. NewEdge Advisors LLC raised its position in Crescent Energy by 1.1% in the 2nd quarter. NewEdge Advisors LLC now owns 145,918 shares of the company’s stock valued at $1,433,000 after purchasing an additional 1,650 shares during the last quarter. Mraz Amerine & Associates Inc. raised its position in Crescent Energy by 3.1% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 208,065 shares of the company’s stock valued at $2,043,000 after purchasing an additional 6,187 shares during the last quarter. Allworth Financial LP boosted its stake in Crescent Energy by 31.3% in the second quarter. Allworth Financial LP now owns 6,770 shares of the company’s stock worth $66,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Corient Private Wealth LP boosted its stake in Crescent Energy by 856.5% in the second quarter. Corient Private Wealth LP now owns 229,407 shares of the company’s stock worth $2,253,000 after purchasing an additional 205,423 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Company Profile

Crescent Energy Company is an independent, U.S.-based energy company engaged in the acquisition, development, and operation of oil and natural gas properties. Its production portfolio includes crude oil, natural gas, and natural gas liquids, with an emphasis on established assets that offer ongoing development opportunities.

The company’s operations are concentrated in several major U.S. onshore producing regions, including the Eagle Ford, the Uinta Basin, and other assets across the Rocky Mountain and central United States.