Crescent Energy Company (NYSE:CRGY) Receives $13.13 Consensus Target Price from Analysts

Shares of Crescent Energy Company (NYSE:CRGY) have earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $14.30.

A number of equities research analysts recently weighed in on the company. Evercore began coverage on Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price target for the company. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Jefferies Financial Group restated a “hold” rating and issued a $9.00 price objective on shares of Crescent Energy in a report on Sunday, January 25th. Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th.

Crescent Energy Stock Up 3.3%

Crescent Energy stock opened at $13.52 on Thursday. The firm has a fifty day moving average price of $10.59 and a two-hundred day moving average price of $9.38. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $13.57. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 25.99 and a beta of 1.57. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.19. The company had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. As a group, analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.48 annualized dividend and a yield of 3.6%. Crescent Energy’s dividend payout ratio is presently 92.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after purchasing an additional 7,015,982 shares during the period. American Century Companies Inc. boosted its holdings in shares of Crescent Energy by 8.0% in the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after buying an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Crescent Energy by 20.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after buying an additional 2,213,352 shares during the last quarter. State Street Corp grew its stake in shares of Crescent Energy by 27.6% in the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after buying an additional 2,767,096 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Crescent Energy by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after buying an additional 1,256,114 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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.