What is KeyCorp's Estimate for Crescent Energy Q3 Earnings?

Crescent Energy (NYSE:CRGY - Free Report) - Research analysts at KeyCorp raised their Q3 2024 earnings per share (EPS) estimates for shares of Crescent Energy in a report issued on Thursday, October 17th. KeyCorp analyst T. Rezvan now expects that the company will earn $0.65 per share for the quarter, up from their previous forecast of $0.37. KeyCorp currently 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 FY2024 earnings at $2.09 EPS, FY2025 earnings at $3.34 EPS, Q1 2026 earnings at $0.86 EPS, Q2 2026 earnings at $0.73 EPS, Q3 2026 earnings at $0.76 EPS and FY2026 earnings at $3.29 EPS.

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

A number of other equities analysts have also weighed in on the stock. Truist Financial dropped their price target on shares of Crescent Energy from $19.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a "neutral" rating and a $12.00 price target for the company. Stephens restated an "overweight" rating and issued a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. Finally, Mizuho cut their target price on Crescent Energy from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given 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 $16.10.

Crescent Energy Stock Performance

Crescent Energy stock traded down $0.12 during midday trading on Monday, hitting $12.30. The stock had a trading volume of 1,774,415 shares, compared to its average volume of 2,387,917. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The company has a market capitalization of $2.18 billion, a PE ratio of -61.50 and a beta of 2.19. The firm's fifty day moving average is $11.60 and its two-hundred day moving average is $11.72. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 3.90%. Crescent Energy's dividend payout ratio (DPR) is -240.00%.

Insider Activity

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of Crescent Energy stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 12,294 shares of company stock worth $131,297. 13.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Jupiter Asset Management Ltd. purchased a new position in Crescent Energy during the first quarter worth $2,877,000. Vanguard Group Inc. lifted its holdings in shares of Crescent Energy by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company's stock worth $107,945,000 after acquiring an additional 530,199 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Crescent Energy by 901.7% during the 1st quarter. GSA Capital Partners LLP now owns 100,681 shares of the company's stock worth $1,198,000 after purchasing an additional 90,630 shares during the period. Moody National Bank Trust Division bought a new position in Crescent Energy during the 2nd quarter valued at about $769,000. Finally, Interval Partners LP purchased a new stake in Crescent Energy in the 2nd quarter worth about $1,835,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

About Crescent Energy

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.