Crescent Energy (NYSE:CRGY) Receives $16.33 Consensus PT from Analysts

Posted by Defense World Staff on Jul 21st, 2023

Crescent Energy (NYSE:CRGY – Get Free Report) has received an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.17.

Several research analysts have commented on the stock. Truist Financial lifted their price target on shares of Crescent Energy from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Mizuho dropped their price target on Crescent Energy from $18.00 to $17.00 in a research report on Tuesday.

Insider Buying and Selling at Crescent Energy

In related news, insider David C. Rockecharlie bought 4,000 shares of Crescent Energy stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average cost of $10.14 per share, with a total value of $40,560.00. Following the completion of the transaction, the insider now owns 45,000 shares in the company, valued at approximately $456,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 6,500 shares of company stock worth $66,138 over the last ninety days. Company insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. boosted its position in Crescent Energy by 4.3% in the 2nd quarter. American International Group Inc. now owns 15,210 shares of the company’s stock worth $190,000 after purchasing an additional 625 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Crescent Energy by 17.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,005 shares of the company’s stock valued at $72,000 after buying an additional 871 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Crescent Energy by 46.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,802 shares of the company’s stock valued at $34,000 after purchasing an additional 883 shares during the last quarter. UBS Group AG increased its position in shares of Crescent Energy by 8.0% during the third quarter. UBS Group AG now owns 13,500 shares of the company’s stock valued at $182,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Sei Investments Co. raised its position in Crescent Energy by 3.7% in the first quarter. Sei Investments Co. now owns 35,265 shares of the company’s stock valued at $399,000 after purchasing an additional 1,265 shares during the period. 64.74% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Performance

NYSE CRGY opened at $11.47 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 2.10, a PEG ratio of 9.48 and a beta of 2.42. The company has a fifty day moving average price of $10.26 and a 200-day moving average price of $11.12. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $18.16.

Crescent Energy (NYSE:CRGY – Get Free Report) last issued its earnings results on Wednesday, May 10th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.81. Crescent Energy had a net margin of 7.92% and a return on equity of 65.47%. The firm had revenue of $590.14 million during the quarter, compared to analyst estimates of $458.00 million. As a group, equities research analysts predict that Crescent Energy will post 0.85 EPS for the current fiscal year.

Crescent Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 7th. Investors of record on Wednesday, May 24th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.18%. Crescent Energy’s dividend payout ratio is currently 8.79%.

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 basins, including the Eagle Ford, Rockies, Barnett, Permian, and Mid-Con in the United States.