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

Shares of Crescent Energy (NYSE:CRGYGet Free Report) have received a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research 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 brokers that have updated their coverage on the stock in the last year is $16.25.

CRGY has been the subject of several recent analyst reports. Raymond James lowered their price target on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Truist Financial dropped their price target on shares of Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Tudor, Pickering, Holt & Co. began coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price target on the stock. Mizuho reissued a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Crescent Energy in a research note on Friday, March 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, March 5th.

Read Our Latest Analysis on Crescent Energy

Crescent Energy Stock Performance

Shares of CRGY opened at $10.97 on Thursday. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.50 and a beta of 2.24. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.82. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $14.22. The company’s 50 day simple moving average is $11.29 and its 200 day simple moving average is $11.55.

Crescent Energy (NYSE:CRGYGet Free Report) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.37. The business 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%. On average, sell-side analysts predict that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.38%. Crescent Energy’s payout ratio is currently 37.21%.

Insider Transactions at Crescent Energy

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 stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after purchasing an additional 2,934 shares during the last quarter. Northside Capital Management LLC bought a new position in Crescent Energy during the 1st quarter worth approximately $4,453,000. Vanguard Group Inc. grew its position 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Crescent Energy by 128.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 239,479 shares of the company’s stock valued at $3,164,000 after acquiring an additional 134,529 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of Crescent Energy by 100.8% in the 4th quarter. American International Group Inc. now owns 38,332 shares of the company’s stock valued at $506,000 after acquiring an additional 19,240 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

About Crescent Energy

(Get Free Report

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.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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