Crescent Energy (NYSE:CRGY) Rating Increased to Hold at BMO Capital Markets

BMO Capital Markets upgraded shares of Crescent Energy (NYSE:CRGY) to a hold rating in a research report sent to investors on Friday, MarketBeat.com reports.

A number of other equities research analysts also recently commented on CRGY. Zacks Research downgraded shares of Crescent Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Finally, Mizuho increased their price objective on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Crescent Energy has an average rating of “Hold” and an average target price of $14.55.

Crescent Energy Price Performance

CRGY stock opened at $8.12 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $2.07 billion, a P/E ratio of -54.16 and a beta of 1.73. The business’s 50-day moving average is $8.83 and its two-hundred day moving average is $8.89. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $866.58 million during the quarter, compared to the consensus estimate of $887.54 million. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%. Analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.9%. Crescent Energy’s dividend payout ratio (DPR) is presently -320.00%.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its stake in Crescent Energy by 8.0% during the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after buying an additional 1,434,789 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Crescent Energy by 13.2% in the third quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company’s stock valued at $95,080,000 after acquiring an additional 1,243,702 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Crescent Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,270,974 shares of the company’s stock valued at $36,738,000 after acquiring an additional 195,385 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Crescent Energy by 0.8% in the 3rd quarter. Millennium Management LLC now owns 2,162,655 shares of the company’s stock valued at $19,291,000 after acquiring an additional 17,993 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

About Crescent Energy

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.