Crescent Energy (NYSE:CRGY) Receives $17.20 Consensus Target Price from Analysts

Crescent Energy (NYSE:CRGY) has received an average recommendation of “Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.50.

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Pickering Energy Partners started coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating on the stock. Raymond James lifted their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday. Finally, Stephens boosted their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of Crescent Energy during the fourth quarter valued at $170,905,000. Jennison Associates LLC grew its holdings in shares of Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after buying an additional 3,354,362 shares in the last quarter. State Street Corp grew its holdings in shares of Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock valued at $74,285,000 after buying an additional 2,986,468 shares in the last quarter. Marshall Wace LLP grew its stake in Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Crescent Energy during the 3rd quarter valued at about $21,872,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Down 2.2 %

Shares of CRGY opened at $15.98 on Friday. The firm has a market cap of $3.65 billion, a PE ratio of 25.78 and a beta of 2.17. The company’s fifty day moving average is $14.94 and its two-hundred day moving average is $12.96. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The firm had revenue of $744.87 million for the quarter, compared to analysts’ expectations of $793.88 million. During the same quarter last year, the firm earned $0.35 earnings per share. Analysts forecast that Crescent Energy will post 0.84 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.00%. Crescent Energy’s dividend payout ratio is currently 77.42%.

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.