Crescent Energy (NYSE:CRGY) Sets New 12-Month High – Should You Buy?

Crescent Energy Company (NYSE:CRGY) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.47 and last traded at $15.3780, with a volume of 7056857 shares trading hands. The stock had previously closed at $14.59.

Analysts Set New Price Targets

A number of analysts recently commented on CRGY shares. Zacks Research lowered Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Wells Fargo & Company reduced their price objective on shares of Crescent Energy from $24.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. KeyCorp restated an “overweight” rating and issued a $19.00 price objective on shares of Crescent Energy in a report on Thursday, June 11th. Seaport Research Partners assumed coverage on shares of Crescent Energy in a research report on Thursday, September 3rd. They issued a “sell” rating and a $12.00 target price for the company. Finally, Wall Street Zen raised shares of Crescent Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.62.

Crescent Energy Stock Performance

The company has a 50 day moving average of $12.45 and a two-hundred day moving average of $12.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $4.66 billion, a PE ratio of -281.74 and a beta of 1.45.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.26 billion. The business’s quarterly revenue was up 55.3% compared to the same quarter last year. As a group, equities research analysts predict that Crescent Energy Company will post 2.17 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, August 17th. Crescent Energy’s dividend payout ratio (DPR) is presently -960.00%.

Institutional Investors Weigh In On Crescent Energy

Hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Crescent Energy during the first quarter valued at $32,000. Nomura Asset Management Co. Ltd. boosted its stake in Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after purchasing an additional 2,286 shares in the last quarter. Allworth Financial LP boosted its stake in Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after purchasing an additional 1,401 shares in the last quarter. NFSG Corp grew its position in Crescent Energy by 188.0% during the 1st quarter. NFSG Corp now owns 6,364 shares of the company’s stock valued at $86,000 after purchasing an additional 4,154 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Crescent Energy by 84.0% during the 4th quarter. Hantz Financial Services Inc. now owns 11,076 shares of the company’s stock valued at $93,000 after purchasing an additional 5,058 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

Crescent Energy Company (NYSE: CRGY) is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.