Crescent Energy (NYSE:CRGY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Crescent Energy (NYSE:CRGY) from a hold rating to a buy rating in a report published on Saturday morning.

Several other equities analysts also recently commented on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $19.00 price target on shares of Crescent Energy in a research note on Monday, August 3rd. Wells Fargo & Company increased their price objective on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. UBS Group lifted their target price on Crescent Energy from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Stephens boosted their target price on Crescent Energy from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley downgraded Crescent Energy to an “underweight” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

Crescent Energy Trading Up 2.3%

NYSE CRGY opened at $11.59 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.57 and a current ratio of 0.94. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -231.65 and a beta of 1.41. The firm has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $11.39. Crescent Energy has a one year low of $7.68 and a one year high of $14.29.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The firm’s revenue was up 55.3% on a year-over-year basis. Equities research analysts anticipate that Crescent Energy will post 2.07 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. Crescent Energy’s dividend payout ratio is currently -960.00%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors have recently modified their holdings of CRGY. Kohlberg Kravis Roberts & Co. L.P. increased its holdings in Crescent Energy by 7.1% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after buying an additional 1,897,230 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock worth $228,981,000 after buying an additional 7,015,982 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Crescent Energy by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock worth $177,810,000 after buying an additional 298,818 shares during the last quarter. State Street Corp boosted its position in shares of Crescent Energy by 27.6% during the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock worth $107,464,000 after acquiring an additional 2,767,096 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Crescent Energy by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock worth $46,935,000 after acquiring an additional 1,256,114 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.