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

Shares of Crescent Energy Company (NYSE:CRGY) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $15.2222.

A number of research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. William Blair assumed coverage on shares of Crescent Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, July 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in Crescent Energy by 4.1% in the 3rd quarter. New York State Teachers Retirement System now owns 65,773 shares of the company’s stock valued at $587,000 after buying an additional 2,612 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after buying an additional 1,241 shares during the last quarter. SG Americas Securities LLC acquired a new position in Crescent Energy in the 3rd quarter valued at $454,000. CWM LLC grew its stake in Crescent Energy by 5.3% in the 3rd quarter. CWM LLC now owns 35,790 shares of the company’s stock valued at $319,000 after buying an additional 1,816 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in Crescent Energy by 45.8% in the 2nd quarter. Corient Private Wealth LLC now owns 16,955 shares of the company’s stock valued at $146,000 after buying an additional 5,330 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Down 1.7%

CRGY stock opened at $8.39 on Monday. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -46.58 and a beta of 1.89. The company has a 50 day moving average of $8.91 and a two-hundred day moving average of $8.87.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The company had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. On average, equities analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.12 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 5.7%. Crescent Energy’s dividend payout ratio (DPR) is presently -266.67%.

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.