Crescent Energy (NYSE:CRGY) Price Target Raised to $20.00

Crescent Energy (NYSE:CRGY) had its target price increased by Raymond James from $19.00 to $20.00 in a report issued on Thursday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. began coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective for the company. Pickering Energy Partners began coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating on the stock. Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Stephens boosted their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $16.30.

Crescent Energy Stock Performance

NYSE:CRGY opened at $15.28 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $15.54. The company has a fifty day moving average of $12.68 and a 200-day moving average of $12.09. The firm has a market capitalization of $3.49 billion, a P/E ratio of 24.65 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. The firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.14%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

Hedge Funds Weigh In On Crescent Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CRGY. Jackson Creek Investment Advisors LLC increased its holdings in Crescent Energy by 1.0% during the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after buying an additional 883 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Crescent Energy by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock worth $165,000 after purchasing an additional 1,085 shares during the period. Quadrature Capital Ltd grew its holdings in Crescent Energy by 5.1% during the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock valued at $366,000 after purchasing an additional 1,503 shares during the period. CWM LLC increased its position in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after buying an additional 1,832 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the period. 52.11% of the stock is owned by hedge funds and other 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.