Crescent Energy (NYSE:CRGY) Receives $16.25 Consensus Target Price from Analysts

Crescent Energy (NYSE:CRGY) has earned an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.38.

A number of equities research analysts have recently commented on the company. Raymond James cut their target price on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. TheStreet raised shares of Crescent Energy from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Mizuho reaffirmed a “neutral” rating and issued a $13.00 target price (down from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, March 5th. Finally, Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 price target for the company.

Insider Buying and Selling

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. 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 acquiring an additional 2,934 shares during the last quarter. Amalgamated Bank raised its holdings in Crescent Energy by 58.5% in the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after purchasing an additional 2,748 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Crescent Energy during the fourth quarter valued at $136,000. Raymond James Financial Services Advisors Inc. bought a new stake in Crescent Energy during the fourth quarter valued at about $139,000. Finally, Carson Advisory Inc. purchased a new stake in Crescent Energy in the fourth quarter worth about $144,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Trading Up 0.4 %

NYSE:CRGY opened at $11.02 on Thursday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 8.54 and a beta of 2.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82. Crescent Energy has a one year low of $9.17 and a one year high of $14.22. The company’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $11.56.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.37. The firm had revenue of $657.73 million for the quarter, compared to analysts’ expectations of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. As a group, analysts forecast that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 4.36%. Crescent Energy’s payout ratio is 37.21%.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, 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 regions, including the Eagle Ford, Marcellus, Utica, and Rockies in the United States.