Stephens Reiterates Overweight Rating for Crescent Energy (NYSE:CRGY)

Stephens reiterated their overweight rating on shares of Crescent Energy (NYSE:CRGY - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $17.00 price target on the stock.

Other equities analysts have also issued reports about the company. Raymond James boosted their target price on Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a research report on Thursday, January 23rd. Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating for the company. Mizuho increased their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Finally, Truist Financial lifted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Crescent Energy presently has a consensus rating of "Buy" and an average price target of $17.60.

Crescent Energy Trading Down 8.2 %

Shares of NYSE:CRGY traded down $1.03 during midday trading on Monday, hitting $11.59. The company had a trading volume of 5,321,032 shares, compared to its average volume of 2,583,878. 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 $9.88 and a 12 month high of $16.94. The firm has a fifty day simple moving average of $15.02 and a 200 day simple moving average of $13.52. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 18.69 and a beta of 2.16.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.14%. Crescent Energy's payout ratio is currently -69.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. State Street Corp boosted its position in shares of Crescent Energy by 78.6% in the third quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after acquiring an additional 2,986,468 shares during the period. Empowered Funds LLC raised its stake in Crescent Energy by 11.4% in the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company's stock worth $10,132,000 after purchasing an additional 94,948 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock valued at $36,741,000 after purchasing an additional 1,164,306 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Crescent Energy during the 4th quarter worth approximately $1,233,000. Finally, Principal Financial Group Inc. grew its position in shares of Crescent Energy by 7,793.7% during the 4th quarter. Principal Financial Group Inc. now owns 847,549 shares of the company's stock worth $12,383,000 after purchasing an additional 836,812 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

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.