Crescent Energy Company (NYSE:CRGY) Receives $15.00 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of Crescent Energy Company (NYSE:CRGY – Get Free Report) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.00.

A number of research firms recently issued reports on CRGY. Evercore ISI started coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. Zacks Research lowered shares of Crescent Energy from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. Mizuho upped their price objective on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Wells Fargo & Company cut their target price on Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Finally, Piper Sandler lowered their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th.

Check Out Our Latest Analysis on CRGY

Crescent Energy Stock Performance

Crescent Energy stock opened at $8.26 on Friday. The stock has a fifty day moving average price of $8.84 and a 200 day moving average price of $8.92. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The firm has a market capitalization of $2.10 billion, a P/E ratio of -55.03 and a beta of 1.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.72.

Crescent Energy (NYSE:CRGY – Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%.The firm had revenue of $866.58 million for the quarter, compared to analyst estimates of $887.54 million. Equities research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.8%. Crescent Energy’s payout ratio is presently -320.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRGY. Caitlin John LLC acquired a new stake in shares of Crescent Energy in the third quarter worth $27,000. Nisa Investment Advisors LLC lifted its holdings in shares of Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after acquiring an additional 1,241 shares in the last quarter. Quarry LP boosted its position in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after purchasing an additional 3,123 shares during the period. Osaic Holdings Inc. increased its holdings in Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Crescent Energy by 135.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock valued at $54,000 after purchasing an additional 3,466 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Company Profile

(Get Free Report)

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.

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