Crescent Energy (NYSE:CRGY) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of Crescent Energy (NYSE:CRGY) in a research note published on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $16.00 price target on the stock.

Several other research analysts have also recently issued reports on CRGY. Truist Financial increased their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. Mizuho raised their price target on Crescent Energy from $13.00 to $14.00 and gave the company a neutral rating in a research note on Monday, May 13th. Wells Fargo & Company lifted their price objective on Crescent Energy from $19.00 to $20.00 and gave the company an overweight rating in a report on Monday, April 22nd. Tudor, Pickering, Holt & Co. began coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They set a buy rating and a $18.00 target price on the stock. Finally, KeyCorp started coverage on shares of Crescent Energy in a report on Thursday, June 27th. They issued an overweight rating and a $16.00 price target for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Crescent Energy presently has an average rating of Buy and an average target price of $16.50.

Crescent Energy Stock Down 0.7 %

NYSE:CRGY opened at $12.05 on Thursday. Crescent Energy has a twelve month low of $10.11 and a twelve month high of $14.22. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $12.16 and a 200-day simple moving average of $11.58.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.18 by $0.28. The company had revenue of $657.47 million for the quarter, compared to the consensus estimate of $579.44 million. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. Research analysts expect that Crescent Energy will post 1.66 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 21st were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.48 annualized dividend and a yield of 3.98%. Crescent Energy’s dividend payout ratio (DPR) is -239.99%.

Hedge Funds Weigh In On Crescent Energy

A number of large investors have recently made changes to their positions in the business. CWM LLC boosted its position in shares of Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after acquiring an additional 2,934 shares in the last quarter. Amalgamated Bank grew its stake in shares of Crescent Energy by 58.5% during the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after acquiring an additional 2,748 shares during the last quarter. Equitec Proprietary Markets LLC acquired a new position in shares of Crescent Energy during the second quarter valued at about $107,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Crescent Energy in the 4th quarter valued at approximately $136,000. 52.11% of the stock is 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.