Brokerages Set Crescent Energy (NYSE:CRGY) Target Price at $17.60

Shares of Crescent Energy (NYSE:CRGY - Get Free Report) have received a consensus rating of "Buy" from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.60.

A number of research firms have weighed in on CRGY. Raymond James lifted their price target on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 23rd. Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating for the company. Truist Financial boosted their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Stephens restated an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Mizuho boosted their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th.

Crescent Energy Stock Down 1.4 %

CRGY traded down $0.16 during midday trading on Friday, hitting $10.67. 3,878,440 shares of the company's stock traded hands, compared to its average volume of 2,814,221. The company has a market cap of $2.43 billion, a PE ratio of 17.20 and a beta of 2.18. The stock's fifty day simple moving average is $14.79 and its 200-day simple moving average is $13.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a one year low of $9.88 and a one year high of $16.94.

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Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.50%. The ex-dividend date is Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is currently -69.57%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of CRGY. Public Employees Retirement System of Ohio increased its position 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 valued at $40,000 after buying an additional 705 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Crescent Energy by 4.3% in the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after acquiring an additional 785 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Crescent Energy by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock valued at $553,000 after acquiring an additional 897 shares in the last quarter. Dark Forest Capital Management LP lifted its position in shares of Crescent Energy by 4.0% in the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock valued at $487,000 after acquiring an additional 1,282 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after buying an additional 1,621 shares in the last quarter. Hedge funds and other 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.