Crescent Energy (NYSE:CRGY) Receives $17.09 Average PT from Analysts

Shares of Crescent Energy (NYSE:CRGY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $17.09.

A number of research analysts recently issued reports on CRGY shares. Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Wells Fargo & Company dropped their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Mizuho lifted their target price on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Siebert Williams Shank began coverage on Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating for the company. Finally, Truist Financial raised their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th.

Insider Buying and Selling

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the purchase, the director now owns 233,607 shares in the company, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 24,932 shares of company stock valued at $263,219 in the last three months. Insiders own 13.20% of the company's stock.

Institutional Trading of Crescent Energy

A number of large investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock worth $74,285,000 after buying an additional 2,986,468 shares during the period. Raymond James Financial Inc. acquired a new stake in Crescent Energy in the 4th quarter valued at $1,811,000. SCP Investment LP bought a new stake in Crescent Energy during the 4th quarter valued at $409,000. Clearbridge Investments LLC acquired a new position in Crescent Energy during the fourth quarter worth $9,869,000. Finally, Thrivent Financial for Lutherans acquired a new position in Crescent Energy during the fourth quarter worth $2,981,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Price Performance

CRGY stock traded up $0.06 during mid-day trading on Thursday, hitting $7.88. The stock had a trading volume of 6,356,845 shares, compared to its average volume of 3,090,428. The firm has a fifty day simple moving average of $12.66 and a 200 day simple moving average of $13.46. The firm has a market capitalization of $2.04 billion, a P/E ratio of 12.70 and a beta of 1.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $3.82 and a 52 week high of $16.94.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 6.10%. Crescent Energy's payout ratio is -69.57%.

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.