Crescent Energy (NYSE:CRGY) Given Consensus Rating of “Buy” by Analysts

Crescent Energy (NYSE:CRGY) has been given an average recommendation of “Buy” by the ten analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.27.

Several equities research analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their price objective on shares of Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Truist Financial lowered their price objective on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a research report on Wednesday. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company.

Crescent Energy Trading Down 0.1 %

Shares of CRGY stock opened at $11.44 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a market cap of $2.03 billion, a P/E ratio of -57.20 and a beta of 2.26. The stock has a 50 day simple moving average of $11.33 and a 200 day simple moving average of $11.58. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $13.85.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. On average, research analysts predict that Crescent Energy will post 1.31 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 4.20%. Crescent Energy’s dividend payout ratio (DPR) is presently -240.00%.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders purchased 12,294 shares of company stock worth $131,297. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after purchasing an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Crescent Energy in the second quarter valued at $32,000. Spirit of America Management Corp NY acquired a new stake in Crescent Energy in the second quarter valued at $36,000. GAMMA Investing LLC increased its holdings in Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after purchasing an additional 2,934 shares during the period. Finally, Amalgamated Bank increased its holdings in Crescent Energy by 58.5% in the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after purchasing an additional 2,748 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.