Crescent Energy (NYSE:CRGY) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Crescent Energy (NYSE:CRGY) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Friday, March 20th. Mizuho boosted their price objective on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their target price on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen lowered Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.58.

Crescent Energy Stock Up 1.8%

Crescent Energy stock opened at $10.19 on Tuesday. Crescent Energy has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.57. The firm’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $11.08. The stock has a market cap of $3.37 billion, a PE ratio of -13.59 and a beta of 1.40.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. Research analysts predict that Crescent Energy will post 1.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, May 18th. This represents a $0.48 annualized dividend and a dividend yield of 4.7%. Crescent Energy’s dividend payout ratio (DPR) is presently -64.00%.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds have recently modified their holdings of CRGY. Strs Ohio purchased a new position in Crescent Energy in the first quarter valued at approximately $32,000. Fifth Third Bancorp increased its position in Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after buying an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Crescent Energy by 134.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after buying an additional 2,286 shares during the last quarter. Quarry LP raised its stake in shares of Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after buying an additional 3,123 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after buying an additional 1,401 shares during the period. Institutional investors own 52.11% of the company’s stock.

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.