Crescent Energy (NYSE:CRGY) Trading 2.8% Higher – What’s Next?

Shares of Crescent Energy (NYSE:CRGY) rose 2.8% during mid-day trading on Monday . The stock traded as high as $14.24 and last traded at $14.15. Approximately 320,009 shares changed hands during trading, a decline of 87% from the average daily volume of 2,539,097 shares. The stock had previously closed at $13.77.

Analyst Ratings Changes

Several brokerages recently weighed in on CRGY. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective on the stock. Mizuho boosted their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Raymond James raised their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Evercore ISI reissued an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.80.

Crescent Energy Stock Performance

The company has a 50-day moving average price of $13.79 and a two-hundred day moving average price of $12.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $3.30 billion, a P/E ratio of 23.32 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $793.88 million. During the same quarter last year, the company earned $0.35 earnings per share. Equities analysts expect that Crescent Energy will post 0.98 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.32%. Crescent Energy’s dividend payout ratio (DPR) is 77.42%.

Institutional Trading of Crescent Energy

A number of institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. increased its position in shares of Crescent Energy by 14.1% in the third quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock valued at $362,000 after acquiring an additional 4,102 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Crescent Energy in the 3rd quarter worth about $430,000. Geode Capital Management LLC boosted its stake in shares of Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after purchasing an additional 1,164,306 shares in the last quarter. Barclays PLC lifted its holdings in Crescent Energy by 579.6% in the third quarter. Barclays PLC now owns 241,137 shares of the company’s stock worth $2,641,000 after buying an additional 205,657 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $183,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.