Crescent Energy (NYSE:CRGY – Get Free Report) has received a consensus rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.63.
Several brokerages recently weighed in on CRGY. Wells Fargo & Company increased their target price on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Tudor, Pickering, Holt & Co. started coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective on the stock. TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Mizuho increased their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Finally, Truist Financial boosted their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd.
Insider Activity at Crescent Energy
In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Crescent Energy
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Crescent Energy by 13.9% in the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after acquiring an additional 1,137,367 shares during the last quarter. Teacher Retirement System of Texas raised its position in Crescent Energy by 0.4% in the 4th quarter. Teacher Retirement System of Texas now owns 8,029,515 shares of the company’s stock valued at $106,069,000 after purchasing an additional 34,631 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Crescent Energy by 22,968.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after purchasing an additional 3,642,584 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Crescent Energy by 21.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after purchasing an additional 291,990 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock valued at $18,930,000 after buying an additional 614,969 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.
Crescent Energy Price Performance
NYSE CRGY opened at $12.27 on Friday. Crescent Energy has a 1 year low of $9.60 and a 1 year high of $14.22. The company has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $11.58. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.18 billion, a P/E ratio of -61.32 and a beta of 2.20.
Crescent Energy (NYSE:CRGY – Get Free Report) last released its earnings results on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.28. The firm had revenue of $657.47 million during the quarter, compared to analyst estimates of $579.44 million. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. On average, sell-side analysts predict that Crescent Energy will post 1.65 EPS for the current year.
Crescent Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.12 per share. The ex-dividend date is Monday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 3.91%. Crescent Energy’s dividend payout ratio (DPR) is currently -239.99%.
Crescent Energy Company Profile
Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.