Crescent Energy (NYSE:CRGY) Receives $16.20 Average Target Price from Analysts

Shares of Crescent Energy (NYSE:CRGY) have earned a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $16.20.

CRGY has been the topic of several analyst reports. Wells Fargo & Company cut their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Wolfe Research initiated coverage on shares of Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Truist Financial cut their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

Crescent Energy Trading Up 1.9 %

Shares of NYSE CRGY opened at $13.46 on Thursday. The company’s 50 day simple moving average is $11.37 and its 200 day simple moving average is $11.69. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $13.85. The firm has a market capitalization of $2.39 billion, a P/E ratio of 673.00 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The business had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. On average, analysts predict that Crescent Energy will post 1.28 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 3.57%. Crescent Energy’s dividend payout ratio is presently 2,400.00%.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski bought 9,344 shares of Crescent Energy stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, with a total value of $99,233.28. Following the acquisition, the director now owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 12,294 shares of company stock worth $131,297 in the last ninety days. Insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. bought a new stake in Crescent Energy in the 1st quarter valued at about $2,877,000. Vanguard Group Inc. boosted its holdings in Crescent Energy by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after purchasing an additional 530,199 shares during the period. GSA Capital Partners LLP boosted its holdings in Crescent Energy by 901.7% in the 1st quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock valued at $1,198,000 after purchasing an additional 90,630 shares during the period. Moody National Bank Trust Division bought a new stake in Crescent Energy in the 2nd quarter valued at about $769,000. Finally, Interval Partners LP bought a new stake in Crescent Energy in the 2nd quarter valued at about $1,835,000. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.