Crescent Energy (NYSE:CRGY) Receives Consensus Recommendation of “Buy” from Brokerages

Crescent Energy (NYSE:CRGY) has been given a consensus recommendation of “Buy” by the eleven research firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $17.20.

Several analysts have recently weighed in on CRGY shares. Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Raymond James lifted their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Mizuho increased their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Stephens raised their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Pickering Energy Partners began coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of CRGY. Farther Finance Advisors LLC boosted its stake in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares during the period. Amalgamated Bank boosted its position in Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. GAMMA Investing LLC grew its stake in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after buying an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in Crescent Energy in the fourth quarter worth $131,000. Finally, Zacks Investment Management bought a new stake in Crescent Energy in the third quarter valued at $121,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Down 0.6 %

Shares of NYSE:CRGY opened at $16.17 on Friday. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 26.07 and a beta of 2.17. The company has a 50 day moving average of $14.85 and a two-hundred day moving average of $12.91. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. During the same period last year, the business earned $0.35 EPS. As a group, analysts forecast that Crescent Energy will post 0.84 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was 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.