Crescent Energy (NYSE:CRGY) Given Consensus Recommendation of “Buy” by Analysts

Crescent Energy (NYSE:CRGY) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $16.38.

A number of analysts recently issued reports on CRGY shares. Mizuho reiterated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Crescent Energy in a research note on Friday, March 22nd. Raymond James decreased their price objective on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Wells Fargo & Company upped their target price on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, March 5th. Finally, Truist Financial decreased their target price on Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 5th.

Crescent Energy Stock Down 1.9 %

Shares of NYSE CRGY opened at $10.77 on Thursday. Crescent Energy has a one year low of $9.17 and a one year high of $14.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average price is $11.30 and its 200-day moving average price is $11.55. The stock has a market capitalization of $1.93 billion, a PE ratio of 8.35 and a beta of 2.24.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The company had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. On average, equities research analysts anticipate that Crescent Energy will post 0.99 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Thursday, March 14th. Crescent Energy’s payout ratio is currently 37.21%.

Insider Transactions at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors have recently bought and sold shares of the stock. Seven Grand Managers LLC purchased a new stake in Crescent Energy during the 1st quarter valued at about $4,760,000. GAMMA Investing LLC boosted its holdings in Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after acquiring an additional 2,934 shares during the period. Northside Capital Management LLC purchased a new stake in Crescent Energy during the 1st quarter valued at about $4,453,000. Vanguard Group Inc. boosted its holdings in Crescent Energy by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after acquiring an additional 530,199 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in 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 period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.