Crescent Energy (NYSE:CRGY) Sets New 52-Week High – Here’s What Happened

Crescent Energy (NYSE:CRGY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.70 and last traded at $15.61, with a volume of 1418977 shares traded. The stock had previously closed at $15.37.

Analyst Ratings Changes

Several analysts recently commented on the company. Raymond James boosted their price target on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Truist Financial increased their target price on shares of Crescent Energy from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Stephens raised their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $16.80.

Crescent Energy Trading Down 0.1 %

The stock has a market cap of $3.59 billion, a PE ratio of 25.34 and a beta of 2.17. The company’s 50-day moving average price is $14.22 and its 200 day moving average price is $12.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, sell-side analysts forecast that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.06%. Crescent Energy’s payout ratio is currently 77.42%.

Institutional Investors Weigh In On Crescent Energy

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after buying an additional 3,135 shares during the period. Amalgamated Bank increased its position in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the period. GAMMA Investing LLC raised its stake in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after acquiring an additional 1,621 shares in the last quarter. Zacks Investment Management purchased a new position in Crescent Energy in the third quarter valued at $121,000. Finally, Principal Financial Group Inc. purchased a new position in Crescent Energy in the second quarter valued at $125,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.