Crescent Energy (NYSE:CRGY - Free Report) had its price objective boosted by Truist Financial from $18.00 to $21.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.
A number of other research analysts also recently commented on the stock. Raymond James upped their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company a "strong-buy" rating in a research note on Thursday, November 21st. Evercore ISI reaffirmed an "outperform" rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Mizuho upped their price objective on shares of Crescent Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Finally, Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $17.10.
Read Our Latest Analysis on Crescent Energy
Crescent Energy Price Performance
Shares of Crescent Energy stock traded up $0.56 on Monday, hitting $16.42. The company's stock had a trading volume of 3,591,888 shares, compared to its average volume of 2,711,156. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average price of $14.44 and a 200-day moving average price of $12.70. The company has a market capitalization of $3.75 billion, a P/E ratio of 26.48 and a beta of 2.17.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.11. The company had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities research analysts expect that Crescent Energy will post 0.98 earnings per share for the current fiscal year.
Crescent Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy's dividend payout ratio (DPR) is 77.42%.
Hedge Funds Weigh In On Crescent Energy
Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its stake in Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company's stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the last quarter. Interval Partners LP bought a new position in Crescent Energy during the second quarter worth $1,835,000. Susquehanna Fundamental Investments LLC bought a new position in Crescent Energy during the second quarter worth $3,496,000. Empowered Funds LLC lifted its stake in Crescent Energy by 11.4% during the third quarter. Empowered Funds LLC now owns 925,301 shares of the company's stock worth $10,132,000 after purchasing an additional 94,948 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Crescent Energy by 53.2% during the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock worth $36,741,000 after purchasing an additional 1,164,306 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.
About Crescent Energy
(
Get Free Report)
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.
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