Analysts Set Crescent Energy (NYSE:CRGY) PT at $16.56

Crescent Energy (NYSE:CRGY) has been assigned an average rating of “Buy” from the eight analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.56.

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

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CRGY. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 94.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock worth $96,585,000 after buying an additional 3,705,389 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in 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 purchasing an additional 3,642,584 shares during the last quarter. Zimmer Partners LP purchased a new stake in Crescent Energy during the 1st quarter valued at $17,731,000. Pingora Partners LLC purchased a new stake in Crescent Energy during the 4th quarter valued at $17,554,000. Finally, Yaupon Capital Management LP purchased a new stake in Crescent Energy during the 1st quarter valued at $10,710,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Down 0.2 %

NYSE CRGY opened at $12.15 on Tuesday. Crescent Energy has a 1-year low of $10.11 and a 1-year high of $14.22. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $11.99 and a 200-day moving average of $11.64. The firm has a market cap of $2.16 billion, a PE ratio of -60.72 and a beta of 2.32.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. The business had revenue of $657.47 million during the quarter, compared to analyst estimates of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. As a group, sell-side analysts forecast 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. Investors of record on Tuesday, May 21st were paid a $0.12 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 3.95%. Crescent Energy’s payout ratio is currently -239.99%.

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.