Crescent Energy (CRGY) to Release Quarterly Earnings on Monday

Crescent Energy (NYSE:CRGY) will release its earnings data after the market closes on Monday, May 6th. Analysts expect Crescent Energy to post earnings of $0.16 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The business had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. On average, analysts expect Crescent Energy to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Crescent Energy Trading Up 0.7 %

NYSE:CRGY opened at $10.57 on Friday. The company has a market cap of $1.90 billion, a P/E ratio of 8.19 and a beta of 2.29. Crescent Energy has a twelve month low of $9.17 and a twelve month high of $14.22. The business has a 50 day moving average price of $11.23 and a two-hundred day moving average price of $11.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.98.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy’s payout ratio is 37.21%.

Analysts Set New Price Targets

Several equities research analysts have commented on CRGY shares. Tudor, Pickering, Holt & Co. initiated coverage on shares of Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 price target on the stock. Wells Fargo & Company upped their target price on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. TheStreet upgraded Crescent Energy from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Mizuho reiterated a “neutral” rating and set a $13.00 price objective (down previously from $14.00) on shares of Crescent Energy in a research note on Friday, March 22nd. Finally, Raymond James cut their price objective on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $16.38.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.20% of the company’s stock.

About Crescent Energy

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.