Crescent Energy (NYSE:CRGY) Receives $17.20 Average Price Target from Analysts

Shares of Crescent Energy (NYSE:CRGY) have received an average rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat reports. Two research 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 12 month price target among brokerages that have updated their coverage on the stock in the last year is $17.20.

A number of analysts recently weighed in on CRGY shares. Stephens increased their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Truist Financial increased their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Pickering Energy Partners started coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Mizuho increased their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Raymond James increased their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 21st.

Crescent Energy Stock Performance

Crescent Energy stock opened at $16.66 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94. The company has a market cap of $3.80 billion, a PE ratio of 26.86 and a beta of 2.17. The company’s 50-day moving average is $14.75 and its two-hundred day moving average is $12.86.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) 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 company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same period in the prior year, the company posted $0.35 EPS. Equities analysts anticipate that Crescent Energy will post 0.9 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 2.88%. Crescent Energy’s dividend payout ratio is currently 77.42%.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Crescent Energy by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock valued at $553,000 after buying an additional 897 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Crescent Energy in the 4th quarter valued at approximately $312,000. GAMMA Investing LLC boosted its holdings in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Crescent Energy by 14.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock valued at $362,000 after buying an additional 4,102 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Crescent Energy in the 3rd quarter valued at approximately $430,000. 52.11% of the stock is owned by institutional investors.

About Crescent Energy

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.