Crescent Energy (NYSE:CRGY) Given Consensus Recommendation of "Buy" by Analysts

Crescent Energy (NYSE:CRGY - Get Free Report) has been given an average recommendation of "Buy" by the eleven analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $16.80.

Several research analysts have commented on the company. Wells Fargo & Company cut their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Stephens lifted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Mizuho increased their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Truist Financial lifted their price objective on shares of Crescent Energy from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Pickering Energy Partners started coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an "outperform" rating for the company.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock worth $92,145,000 after buying an additional 6,348,598 shares in the last quarter. State Street Corp lifted its position in shares of Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after acquiring an additional 2,986,468 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company's stock worth $40,501,000 after acquiring an additional 33,626 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock worth $36,741,000 after acquiring an additional 1,164,306 shares during the period. Finally, Segall Bryant & Hamill LLC increased its stake in Crescent Energy by 48.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company's stock valued at $33,643,000 after purchasing an additional 1,001,552 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 2.7 %

Shares of Crescent Energy stock traded up $0.36 during trading hours on Tuesday, hitting $13.87. The company had a trading volume of 806,969 shares, compared to its average volume of 2,553,928. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company's 50-day moving average is $13.68 and its two-hundred day moving average is $12.39. The company has a market cap of $3.17 billion, a P/E ratio of 22.37 and a beta of 2.17. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $15.54.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The company had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Analysts anticipate that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy's payout ratio is 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.