Crescent Energy (NYSE:CRGY - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $9.55 and last traded at $9.62, with a volume of 1650305 shares. The stock had previously closed at $11.18.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Mizuho lifted their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Raymond James restated a "strong-buy" rating and set a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Truist Financial increased their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of "Moderate Buy" and an average target price of $17.09.
Read Our Latest Stock Analysis on CRGY
Crescent Energy Stock Down 7.8 %
The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.72 and a beta of 1.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $12.32 and a 200 day moving average price of $13.39.
Crescent Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date was Wednesday, March 12th. Crescent Energy's payout ratio is -69.57%.
Insider Transactions at Crescent Energy
In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael Duginski bought 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the transaction, the director now owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 24,932 shares of company stock worth $263,219. Company insiders own 13.20% of the company's stock.
Hedge Funds Weigh In On Crescent Energy
A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after purchasing an additional 705 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after buying an additional 2,377 shares in the last quarter. Quarry LP raised its position in Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $64,000 after buying an additional 3,155 shares during the last quarter. GAMMA Investing LLC lifted its stake in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after acquiring an additional 1,621 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Crescent Energy during the 3rd quarter worth $121,000. 52.11% of the stock is currently owned by institutional investors.
About Crescent Energy
(
Get Free Report)
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.
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