Crescent Energy (NYSE:CRGY) Issues Earnings Results

Crescent Energy (NYSE:CRGY) posted its quarterly earnings data on Monday. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18, FiscalAI reports. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.24 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.

Crescent Energy Price Performance

CRGY stock opened at $13.48 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $13.62 and its 200-day moving average is $11.98. The stock has a market capitalization of $5.70 billion, a PE ratio of -269.65 and a beta of 1.60. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $15.47.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.48 annualized dividend and a yield of 3.6%. Crescent Energy’s dividend payout ratio is currently -960.00%.

Analyst Ratings Changes

CRGY has been the subject of a number of research reports. UBS Group dropped their price target on Crescent Energy from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Stephens upped their target price on Crescent Energy from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Crescent Energy in a report on Thursday, September 10th. Weiss Ratings upgraded Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Finally, Seaport Research Partners started coverage on Crescent Energy in a research note on Thursday, September 3rd. They set a “sell” rating and a $12.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.14.

Crescent Energy News Summary

Here are the key news stories impacting Crescent Energy this week:

• Positive Sentiment: Crescent reported third-quarter EPS of $0.77, well above the $0.59 analyst consensus and up from $0.35 a year earlier. Revenue of $1.35 billion also exceeded estimates of $1.24 billion, providing a clear positive earnings surprise. Crescent Energy Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: The company characterized third-quarter financial and operating performance, including cash flow, as strong. The results reinforce the investment case after Crescent’s shares climbed substantially over the past year and trade above their 200-day moving average. Crescent Energy Reports Strong Third-Quarter Results and Cash Flow
• Positive Sentiment: Crescent declared a quarterly dividend of $0.12 per share, or $0.48 annualized, representing an indicated yield of approximately 3.6%. The dividend may improve shareholder returns and signal confidence in cash generation; the ex-dividend date is November 16, with payment scheduled for November 30.
• Positive Sentiment: The company confidentially submitted a draft registration statement for a proposed IPO of Crescent Royalties. A separate listing could help establish a valuation for the royalty assets, raise capital and potentially highlight value not reflected in CRGY’s current share price. Crescent Energy Announces Confidential IPO Filing for Royalty Subsidiary
• Neutral Sentiment: Crescent also released third-quarter production results. Investors will focus on production volumes, costs and guidance from the company’s earnings call to determine whether the strong financial results are sustainable. Crescent Energy Reports Third-Quarter Production Results

Crescent Energy Company Profile

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company’s portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.