Crescent Energy (NYSE:CRGY) Receives $16.56 Average Price Target from Brokerages

Crescent Energy (NYSE:CRGY) has received an average rating of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.56.

Several brokerages have commented on CRGY. Mizuho upped their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Truist Financial increased their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wells Fargo & Company increased their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. KeyCorp assumed coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target for the company. Finally, Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price target for the company.

Crescent Energy Trading Up 2.7 %

Shares of CRGY opened at $12.37 on Tuesday. The stock has a market capitalization of $2.20 billion, a P/E ratio of -61.85 and a beta of 2.32. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $11.94 and a two-hundred day simple moving average of $11.66. Crescent Energy has a twelve month low of $9.74 and a twelve month high of $14.22.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.28. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The business had revenue of $657.47 million during the quarter, compared to analysts’ expectations of $579.44 million. On average, research analysts anticipate that Crescent Energy will post 1.68 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Monday, May 20th. Crescent Energy’s payout ratio is presently -239.99%.

Institutional Trading of Crescent Energy

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Crescent Energy by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after acquiring an additional 1,137,367 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Crescent Energy by 0.4% during the 4th quarter. Teacher Retirement System of Texas now owns 8,029,515 shares of the company’s stock valued at $106,069,000 after acquiring an additional 34,631 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Crescent Energy by 22,968.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock valued at $48,328,000 after acquiring an additional 3,642,584 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Crescent Energy by 21.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock valued at $22,042,000 after acquiring an additional 291,990 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock worth $18,930,000 after buying an additional 614,969 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.