Crescent Energy (NYSE:CRGY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Crescent Energy (NYSE:CRGY) from a hold rating to a buy rating in a report released on Sunday morning.

CRGY has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research note on Friday, March 20th. KeyCorp raised their price objective on shares of Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a report on Sunday, January 25th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Crescent Energy presently has an average rating of “Moderate Buy” and a consensus target price of $15.73.

Crescent Energy Stock Down 0.1%

Shares of NYSE CRGY opened at $12.39 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.29. The firm has a 50-day moving average price of $12.53 and a 200 day moving average price of $10.24. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of -16.51 and a beta of 1.44.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts anticipate that Crescent Energy will post 1.84 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, May 18th. Crescent Energy’s payout ratio is -64.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Crescent Energy by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock valued at $177,810,000 after buying an additional 298,818 shares in the last quarter. Jennison Associates LLC lifted its position in Crescent Energy by 74.1% during the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock valued at $57,435,000 after buying an additional 1,810,225 shares in the last quarter. McAlvany Wealth Management LLC lifted its position in Crescent Energy by 71.6% during the first quarter. McAlvany Wealth Management LLC now owns 231,105 shares of the company’s stock valued at $3,129,000 after buying an additional 96,406 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Crescent Energy by 23.4% during the first quarter. Illinois Municipal Retirement Fund now owns 120,136 shares of the company’s stock valued at $1,622,000 after buying an additional 22,813 shares in the last quarter. Finally, NFSG Corp lifted its position in Crescent Energy by 188.0% during the first quarter. NFSG Corp now owns 6,364 shares of the company’s stock valued at $86,000 after buying an additional 4,154 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

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.