Brokerages Set Crescent Energy (NYSE:CRGY) PT at $16.20

Crescent Energy (NYSE:CRGY) has been given an average recommendation of “Buy” by the ten analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.20.

CRGY has been the subject of several recent research reports. Wolfe Research initiated coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 target price for the company. Evercore ISI reiterated an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. KeyCorp initiated coverage on shares of Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st.

Insider Buying and Selling

In related news, Director Michael Duginski bought 9,344 shares of Crescent Energy stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $10.62 per share, with a total value of $99,233.28. Following the purchase, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders purchased 12,294 shares of company stock valued at $131,297. Company insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 530,199 shares during the period. Northside Capital Management LLC acquired a new position in shares of Crescent Energy during the 1st quarter worth about $4,453,000. GAMMA Investing LLC boosted its stake in shares of Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after buying an additional 2,934 shares during the last quarter. Thomist Capital Management LP acquired a new position in shares of Crescent Energy during the 1st quarter worth about $3,024,000. Finally, Capstone Investment Advisors LLC boosted its stake in shares of Crescent Energy by 204.6% during the 1st quarter. Capstone Investment Advisors LLC now owns 228,910 shares of the company’s stock worth $2,724,000 after buying an additional 153,750 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $12.46 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market cap of $2.21 billion, a P/E ratio of -62.28 and a beta of 2.19. The firm has a 50 day simple moving average of $11.52 and a 200 day simple moving average of $11.71. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $13.85.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The business had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. Sell-side analysts predict that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Monday, August 19th. Crescent Energy’s payout ratio is presently -240.00%.

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.