Crescent Energy (NYSE:CRGY) Given New $20.00 Price Target at Wells Fargo & Company

Crescent Energy (NYSE:CRGY - Free Report) had its price target cut by Wells Fargo & Company from $21.00 to $20.00 in a research note released on Monday morning, MarketBeat reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on CRGY. Siebert Williams Shank began coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating on the stock. Truist Financial lifted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Stephens reissued an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and an average price target of $17.55.

Crescent Energy Stock Down 1.2 %

Shares of NYSE CRGY traded down $0.14 during mid-day trading on Monday, reaching $11.14. 324,601 shares of the company traded hands, compared to its average volume of 3,218,640. The company's fifty day moving average is $13.54 and its two-hundred day moving average is $13.46. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The stock has a market cap of $2.88 billion, a PE ratio of 17.97 and a beta of 2.18.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 4.31%. Crescent Energy's dividend payout ratio is currently -69.57%.

Insider Activity

In other Crescent Energy news, Director Michael Duginski bought 4,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, with a total value of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares in the company, valued at $2,424,840.66. The trade was a 1.74 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company'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 value of $29,221,844.93. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in shares of Crescent Energy by 30.7% in the 4th quarter. California State Teachers Retirement System now owns 179,917 shares of the company's stock worth $2,629,000 after purchasing an additional 42,253 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Crescent Energy in the fourth quarter valued at about $754,000. Public Employees Retirement System of Ohio grew its stake in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after buying an additional 705 shares during the last quarter. Neo Ivy Capital Management increased its holdings in shares of Crescent Energy by 547.9% during the fourth quarter. Neo Ivy Capital Management now owns 254,706 shares of the company's stock worth $3,721,000 after buying an additional 215,396 shares in the last quarter. Finally, GTS Securities LLC acquired a new stake in shares of Crescent Energy during the fourth quarter worth approximately $465,000. 52.11% of the stock is owned by institutional investors.

About Crescent Energy

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.