Crescent Energy (NYSE:CRGY) Shares Gap Down – Should You Sell?

Crescent Energy Company (NYSE:CRGY) gapped down prior to trading on Monday . The stock had previously closed at $11.58, but opened at $10.93. Crescent Energy shares last traded at $11.0740, with a volume of 610,941 shares trading hands.

Analysts Set New Price Targets

CRGY has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Mizuho boosted their price target on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings lowered Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. Finally, Piper Sandler boosted their price target on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Crescent Energy Stock Down 0.3%

The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $3.56 billion, a PE ratio of -14.38 and a beta of 1.37. The business has a fifty day moving average of $12.50 and a 200-day moving average of $10.95.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Equities research analysts anticipate that Crescent Energy Company will post 1.99 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 4.5%. Crescent Energy’s payout ratio is -64.00%.

Hedge Funds Weigh In On Crescent Energy

Large investors have recently bought and sold shares of the business. Strs Ohio bought a new position in Crescent Energy in the first quarter worth approximately $32,000. Caitlin John LLC bought a new stake in shares of Crescent Energy in the 3rd quarter valued at about $27,000. Fifth Third Bancorp boosted its holdings in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after buying an additional 2,286 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Crescent Energy by 303.5% in 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. 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.