Crescent Energy (NYSE:CRGY) Issues Earnings Results, Beats Expectations By $0.11 EPS

Crescent Energy (NYSE:CRGYGet Free Report) announced its quarterly earnings results on Monday. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11, Zacks reports. The firm had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a return on equity of 14.01% and a net margin of 2.17%. During the same period in the prior year, the firm earned $0.35 EPS.

Crescent Energy Stock Up 1.3 %

CRGY stock traded up $0.17 during midday trading on Thursday, hitting $13.53. The company’s stock had a trading volume of 442,314 shares, compared to its average volume of 2,351,573. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85. The stock has a market capitalization of $2.40 billion, a P/E ratio of 21.54 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. The company’s fifty day moving average price is $11.92 and its 200 day moving average price is $11.81.

Crescent Energy Announces Dividend

The firm also recently announced 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 3.55%. Crescent Energy’s payout ratio is 77.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on CRGY. Stephens boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Evercore ISI reissued an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating on the stock. Wolfe Research began coverage on Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 target price for the company. Finally, Truist Financial dropped their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy has an average rating of “Buy” and a consensus price target of $15.80.

Read Our Latest Analysis on Crescent Energy

About Crescent Energy

(Get Free Report)

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.

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Earnings History for Crescent Energy (NYSE:CRGY)

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