Crescent Energy’s (CRGY) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of Crescent Energy (NYSE:CRGY) in a research report released on Tuesday,Benzinga reports. Stephens currently has a $18.00 price target on the stock.

Several other research firms also recently weighed in on CRGY. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective on the stock in a report on Friday, March 20th. Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. Johnson Rice reissued an “accumulate” rating and set a $19.00 price objective on shares of Crescent Energy in a report on Wednesday, March 25th. Jefferies Financial Group reaffirmed a “hold” rating and set a $9.00 target price on shares of Crescent Energy in a research report on Sunday, January 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.73.

Crescent Energy Trading Down 5.4%

NYSE CRGY opened at $12.40 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a twelve month low of $7.68 and a twelve month high of $14.29. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -16.53 and a beta of 1.44. The business’s fifty day moving average is $12.53 and its 200 day moving average is $10.24.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.57 EPS. Crescent Energy’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, sell-side analysts expect that Crescent Energy will post 1.58 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, May 18th. Crescent Energy’s dividend payout ratio (DPR) is currently -64.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitlin John LLC bought a new position in shares of Crescent Energy in the 3rd quarter worth about $27,000. Strs Ohio bought a new position in shares of Crescent Energy in the 1st quarter worth about $32,000. Nisa Investment Advisors LLC raised its position in shares of Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,241 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares in the last quarter. 52.11% of the stock is owned by 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.