FY2024 EPS Estimates for Crescent Energy Decreased by Jefferies Financial Group (NYSE:CRGY)

Crescent Energy (NYSE:CRGYGet Rating) – Research analysts at Jefferies Financial Group decreased their FY2024 earnings estimates for shares of Crescent Energy in a research note issued on Monday, January 23rd. Jefferies Financial Group analyst L. Byrne now forecasts that the company will post earnings per share of $0.76 for the year, down from their prior forecast of $0.78. Jefferies Financial Group has a “Hold” rating and a $15.00 price target on the stock. The consensus estimate for Crescent Energy’s current full-year earnings is $4.36 per share.

Crescent Energy (NYSE:CRGYGet Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $3.39. Crescent Energy had a net margin of 11.11% and a return on equity of 130.62%. The firm had revenue of $864.96 million for the quarter, compared to analysts’ expectations of $678.00 million.

Other equities analysts have also recently issued research reports about the stock. Bank of America initiated coverage on shares of Crescent Energy in a research report on Tuesday, November 15th. They issued a “neutral” rating and a $15.00 price objective on the stock. Wells Fargo & Company initiated coverage on shares of Crescent Energy in a research report on Wednesday, September 28th. They issued an “overweight” rating and a $18.00 price objective on the stock. Mizuho started coverage on shares of Crescent Energy in a research report on Monday, January 9th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Truist Financial cut their target price on shares of Crescent Energy to $20.00 in a research note on Wednesday, November 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.40.

Crescent Energy Trading Down 3.2 %

CRGY stock opened at $12.99 on Tuesday. The firm’s 50-day moving average price is $12.74 and its two-hundred day moving average price is $14.06. Crescent Energy has a 12-month low of $10.83 and a 12-month high of $19.65. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.56.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 7th. Stockholders of record on Wednesday, November 23rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date was Tuesday, November 22nd.

Insider Activity

In other Crescent Energy news, CFO Brandi Kendall acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were acquired at an average price of $14.09 per share, with a total value of $35,225.00. Following the completion of the purchase, the chief financial officer now directly owns 8,500 shares of the company’s stock, valued at approximately $119,765. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crescent Energy news, CFO Brandi Kendall acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were acquired at an average price of $14.09 per share, with a total value of $35,225.00. Following the completion of the purchase, the chief financial officer now directly owns 8,500 shares of the company’s stock, valued at approximately $119,765. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David C. Rockecharlie acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were acquired at an average cost of $13.84 per share, for a total transaction of $27,680.00. Following the purchase, the chief executive officer now directly owns 35,000 shares of the company’s stock, valued at $484,400. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 8,350 shares of company stock valued at $116,110. Corporate insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Crescent Energy in the second quarter worth about $135,000. Mraz Amerine & Associates Inc. raised its holdings in Crescent Energy by 18.0% in the second quarter. Mraz Amerine & Associates Inc. now owns 89,425 shares of the company’s stock worth $1,116,000 after buying an additional 13,672 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Crescent Energy in the second quarter worth about $884,000. HighTower Trust Services LTA purchased a new position in Crescent Energy in the second quarter worth about $16,166,000. Finally, Delphia USA Inc. purchased a new position in Crescent Energy in the second quarter worth about $664,000. 10.92% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

(Get Rating)

Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.

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Earnings History and Estimates for Crescent Energy (NYSE:CRGY)

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