Crescent Energy Company (NYSE:CRGY) Receives Consensus Rating of “Hold” from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have been given an average rating of “Hold” by the fifteen brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $14.5455.

Several brokerages have recently weighed in on CRGY. Zacks Research cut shares of Crescent Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Crescent Energy in a research report on Wednesday, October 8th. BMO Capital Markets started coverage on Crescent Energy in a research report on Friday. They issued a “market perform” rating and a $10.00 price target for the company. Piper Sandler lowered their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, Wells Fargo & Company reduced their target price on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, October 17th.

Crescent Energy Stock Down 1.5%

CRGY stock opened at $8.12 on Friday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -54.16 and a beta of 1.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day moving average is $8.83 and its two-hundred day moving average is $8.89. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $866.58 million during the quarter, compared to analyst estimates of $887.54 million. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%. As a group, analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Monday, November 17th. Crescent Energy’s dividend payout ratio (DPR) is presently -320.00%.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently bought and sold shares of the business. Caitlin John LLC purchased a new position in shares of Crescent Energy in the third quarter valued at about $27,000. Nisa Investment Advisors LLC lifted its holdings in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,241 shares in the last quarter. Quarry LP grew its holdings in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after buying an additional 3,123 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Crescent Energy by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Crescent Energy by 135.8% in the third quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock worth $54,000 after buying an additional 3,466 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.