Crescent Energy (NYSE:CRGY) Stock Price Up 2.8% – Time to Buy?

Crescent Energy (NYSE:CRGY) shares shot up 2.8% during trading on Monday . The company traded as high as $14.24 and last traded at $14.15. 320,009 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,539,097 shares. The stock had previously closed at $13.77.

Analyst Ratings Changes

A number of analysts have issued reports on CRGY shares. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. Mizuho increased their target price on Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Evercore ISI reissued an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Finally, Raymond James lifted their price target on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Two 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 stock presently has a consensus rating of “Buy” and an average target price of $16.80.

Crescent Energy Price Performance

The stock has a 50-day moving average price of $13.79 and a two-hundred day moving average price of $12.43. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 23.32 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. The company 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 period in the prior year, the company earned $0.35 earnings per share. As a group, equities research analysts forecast that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s dividend payout ratio is currently 77.42%.

Hedge Funds Weigh In On Crescent Energy

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy during the 2nd quarter worth about $32,000. Farther Finance Advisors LLC lifted its position in shares of Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares in the last quarter. Amalgamated Bank lifted its stake in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Crescent Energy in the second quarter valued at approximately $125,000. Finally, Zacks Investment Management purchased a new position in Crescent Energy during the third quarter worth approximately $121,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.