Crescent Energy (NYSE:CRGY) Hits New 1-Year High – Still a Buy?

Crescent Energy Company (NYSE:CRGY) shares hit a new 52-week high on Tuesday . The stock traded as high as $12.99 and last traded at $12.9920, with a volume of 883967 shares traded. The stock had previously closed at $12.50.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CRGY shares. JPMorgan Chase & Co. raised shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Friday, March 20th. Evercore initiated coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price on the stock. Zacks Research upgraded shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. BMO Capital Markets assumed coverage on shares of Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a research report on Sunday, January 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.30.

Crescent Energy Stock Performance

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The business has a 50-day moving average of $10.59 and a 200-day moving average of $9.38. The company has a market capitalization of $4.43 billion, a P/E ratio of 25.99 and a beta of 1.57.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. The business had revenue of $865.05 million for the quarter, compared to analysts’ expectations of $884.64 million. On average, sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

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

Institutional Trading of Crescent Energy

Several institutional investors have recently added to or reduced their stakes in CRGY. Royal Bank of Canada boosted its position in shares of Crescent Energy by 16.1% during the first quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock valued at $662,000 after buying an additional 8,173 shares during the period. AQR Capital Management LLC raised its holdings in shares of Crescent Energy by 8.9% in the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after buying an additional 1,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Crescent Energy by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after buying an additional 6,184 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Crescent Energy by 32.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock valued at $2,748,000 after acquiring an additional 59,199 shares during the period. 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.