Crescent Energy (NYSE:CRGY) Receives Average Rating of "Moderate Buy" from Analysts

Crescent Energy (NYSE:CRGY - Get Free Report) has received an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $16.80.

CRGY has been the topic of several research analyst reports. Stephens reissued an "overweight" rating and issued a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. KeyCorp reduced their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Truist Financial increased their price target on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Raymond James reiterated a "strong-buy" rating and set a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Citigroup cut shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th.

Crescent Energy Stock Up 2.7 %

Shares of CRGY opened at $8.73 on Monday. The business's 50 day moving average is $10.43 and its 200 day moving average is $13.01. 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 12-month low of $6.83 and a 12-month high of $16.94. The company has a market capitalization of $2.26 billion, a PE ratio of 14.08 and a beta of 1.88.

Crescent Energy Announces Dividend

The company also recently declared 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 dividend yield of 5.50%. Crescent Energy's payout ratio is -69.57%.

Insiders Place Their Bets

In related news, Director Michael Duginski bought 4,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the acquisition, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. This represents a 1.74 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction 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. Insiders have bought 24,932 shares of company stock worth $263,219 in the last ninety days. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC grew its position in shares of Crescent Energy by 7.3% in the 1st quarter. Peregrine Capital Management LLC now owns 399,524 shares of the company's stock worth $4,491,000 after buying an additional 27,128 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Crescent Energy by 12.3% in the first quarter. New York State Teachers Retirement System now owns 61,361 shares of the company's stock valued at $690,000 after acquiring an additional 6,744 shares in the last quarter. Amalgamated Bank grew its holdings in Crescent Energy by 3.0% in the first quarter. Amalgamated Bank now owns 51,467 shares of the company's stock worth $578,000 after purchasing an additional 1,506 shares during the last quarter. KBC Group NV acquired a new position in shares of Crescent Energy during the first quarter worth $117,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Crescent Energy by 25.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 102,704 shares of the company's stock valued at $1,154,000 after purchasing an additional 20,954 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

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.

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