Brokerages Set Crescent Energy (NYSE:CRGY) PT at $16.30

Shares of Crescent Energy (NYSE:CRGY) have earned a consensus rating of “Buy” from the eleven analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.30.

Several equities analysts have commented on the stock. Stephens raised their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Finally, Raymond James boosted their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st.

Hedge Funds Weigh In On Crescent Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its stake in Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy in the 2nd quarter valued at approximately $32,000. Spirit of America Management Corp NY acquired a new position in Crescent Energy in the 2nd quarter worth approximately $36,000. Farther Finance Advisors LLC boosted its stake in Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares during the period. Finally, Amalgamated Bank grew its position in Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $14.87 on Friday. The business has a 50 day simple moving average of $13.04 and a 200 day simple moving average of $12.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 23.98 and a beta of 2.19. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $15.54.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities research analysts anticipate that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

Crescent Energy Company Profile

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.