Crescent Energy (NYSE:CRGY - Free Report) had its price target upped by Raymond James from $22.00 to $23.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.
Other equities research analysts have also recently issued reports about the company. Truist Financial increased their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Mizuho upped their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their target price 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. Pickering Energy Partners began coverage on Crescent Energy in a research report on Monday, October 28th. They issued an "outperform" rating for the company. Finally, Stephens boosted their price target on Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $17.50.
Check Out Our Latest Analysis on Crescent Energy
Crescent Energy Trading Down 2.2 %
Crescent Energy stock traded down $0.36 during midday trading on Thursday, reaching $15.98. The stock had a trading volume of 1,898,360 shares, compared to its average volume of 2,446,351. The firm's fifty day simple moving average is $14.94 and its two-hundred day simple moving average is $12.96. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 25.78 and a beta of 2.17. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.
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, topping analysts' consensus estimates 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 earned $0.35 EPS. Equities analysts anticipate that Crescent Energy will post 0.84 EPS for the current fiscal year.
Crescent Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.00%. Crescent Energy's dividend payout ratio is currently 77.42%.
Institutional Trading of Crescent Energy
Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Crescent Energy by 85.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company's stock valued at $31,477,000 after purchasing an additional 1,226,027 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Crescent Energy by 225.9% in the 2nd quarter. Renaissance Technologies LLC now owns 346,800 shares of the company's stock valued at $4,110,000 after acquiring an additional 240,400 shares during the period. Sei Investments Co. raised its stake in Crescent Energy by 1,852.6% in the 2nd quarter. Sei Investments Co. now owns 848,798 shares of the company's stock worth $10,058,000 after acquiring an additional 805,328 shares during the last quarter. Marshall Wace LLP lifted its position in Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company's stock worth $33,537,000 after acquiring an additional 2,098,303 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Crescent Energy during the 2nd quarter valued at about $315,000. 52.11% of the stock is currently owned by 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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