Crescent Energy (NYSE:CRGY) Releases Earnings Results, Beats Estimates By $0.30 EPS

Crescent Energy (NYSE:CRGY - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.26 by $0.30, Zacks reports. The business had revenue of $875.29 million for the quarter, compared to analyst estimates of $889.39 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%.

Crescent Energy Price Performance

Shares of Crescent Energy stock traded down $0.17 on Friday, hitting $12.62. 4,736,526 shares of the company traded hands, compared to its average volume of 2,513,696. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The business has a 50-day simple moving average of $15.06 and a 200 day simple moving average of $13.51. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The stock has a market capitalization of $2.88 billion, a P/E ratio of 20.35 and a beta of 2.16.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is currently -69.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating for the company. Raymond James increased their target price on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Mizuho boosted their price target on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Finally, Truist Financial increased their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Crescent Energy currently has an average rating of "Buy" and an average price target of $17.50.

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.