KeyCorp Has Bullish Forecast for Crescent Energy Q4 Earnings

Crescent Energy (NYSE:CRGY - Free Report) - KeyCorp raised their Q4 2024 earnings per share (EPS) estimates for Crescent Energy in a note issued to investors on Thursday, October 17th. KeyCorp analyst T. Rezvan now forecasts that the company will post earnings per share of $0.78 for the quarter, up from their prior forecast of $0.71. KeyCorp has a "Strong-Buy" rating on the stock. The consensus estimate for Crescent Energy's current full-year earnings is $1.28 per share. KeyCorp also issued estimates for Crescent Energy's Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.80 EPS and Q4 2025 earnings at $0.87 EPS.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million for the quarter, compared to analysts' expectations of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%.

A number of other brokerages have also recently commented on CRGY. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. began coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a "neutral" rating and a $12.00 price objective on the stock. Truist Financial lowered their price objective on Crescent Energy from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Stephens reissued an "overweight" rating and set a $20.00 target price on shares of Crescent Energy in a research report on Tuesday, August 6th. Finally, Wolfe Research started coverage on Crescent Energy in a research report on Thursday, July 18th. They issued an "outperform" rating and a $16.00 price target for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy currently has an average rating of "Buy" and a consensus price target of $16.20.

Crescent Energy Price Performance

Crescent Energy stock traded down $0.23 during midday trading on Friday, reaching $12.41. 1,780,278 shares of the stock traded hands, compared to its average volume of 2,390,957. The stock has a market cap of $2.20 billion, a P/E ratio of -62.05 and a beta of 2.19. The stock's fifty day moving average is $11.60 and its 200-day moving average is $11.72. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy's dividend payout ratio is presently -240.00%.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares of the company's stock, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 12,294 shares of company stock worth $131,297 in the last 90 days. 13.20% of the stock is owned by corporate insiders.

Institutional Trading of Crescent Energy

A number of hedge funds have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. raised its holdings in Crescent Energy by 13.9% in the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company's stock worth $110,775,000 after purchasing an additional 1,137,367 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Crescent Energy by 444.8% during the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock worth $92,145,000 after acquiring an additional 6,348,598 shares in the last quarter. Marshall Wace LLP lifted its position in Crescent Energy by 286.7% during the second 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company's stock valued at $31,477,000 after acquiring an additional 1,226,027 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company's stock valued at $18,930,000 after acquiring an additional 614,969 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

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.