Crescent Energy (NYSE:CRGY) Receives Average Recommendation of “Buy” from Analysts

Crescent Energy (NYSE:CRGY) has been given an average rating of “Buy” by the twelve analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $17.60.

CRGY has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Raymond James upped their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Siebert Williams Shank began coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $10.67 on Friday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 17.20 and a beta of 2.18. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company’s fifty day moving average is $14.79 and its 200 day moving average is $13.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.50%. Crescent Energy’s dividend payout ratio is presently -69.57%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares during the period. Jones Financial Companies Lllp increased its stake in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares in the last quarter. Amalgamated Bank raised its holdings in 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 buying an additional 2,272 shares during the last quarter. Finally, Quarry LP raised its holdings in Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $64,000 after buying an additional 3,155 shares during the last quarter. 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.