Crescent Energy (CRGY) Set to Announce Earnings on Monday

Crescent Energy (NYSE:CRGY) is set to post its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect Crescent Energy to post earnings of $0.37 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. On average, analysts expect Crescent Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Crescent Energy Stock Down 1.4 %

NYSE:CRGY opened at $12.26 on Friday. The stock has a 50-day simple moving average of $11.83 and a 200 day simple moving average of $11.76. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The company has a market cap of $2.18 billion, a PE ratio of 613.00 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.92%. Crescent Energy’s dividend payout ratio is 2,400.00%.

Insider Transactions at Crescent Energy

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 12,294 shares of company stock worth $131,297 in the last quarter. 13.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRGY. Wolfe Research initiated coverage on Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price target on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Two 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.70.

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.