Crescent Energy (NYSE:CRGY) Price Target Cut to $14.00 by Analysts at KeyCorp

Crescent Energy (NYSE:CRGY - Free Report) had its price target decreased by KeyCorp from $18.00 to $14.00 in a research note released on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Stephens reaffirmed an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Raymond James reissued a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Williams Trading set a $16.00 price objective on shares of Crescent Energy in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

Crescent Energy Stock Up 2.7 %

NYSE CRGY traded up $0.23 during trading hours on Monday, reaching $8.73. 1,665,961 shares of the company's stock were exchanged, compared to its average volume of 3,245,161. 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 one year low of $6.83 and a one year high of $16.94. The company's 50-day moving average is $10.43 and its two-hundred day moving average is $13.01. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 14.08 and a beta of 1.88.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is presently -69.57%.

Insider Activity

In related news, Director Michael Duginski acquired 20,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the acquisition, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 24,932 shares of company stock valued at $263,219. 13.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Peregrine Capital Management LLC lifted its position in Crescent Energy by 7.3% during the first quarter. Peregrine Capital Management LLC now owns 399,524 shares of the company's stock worth $4,491,000 after acquiring 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 1st quarter. New York State Teachers Retirement System now owns 61,361 shares of the company's stock valued at $690,000 after purchasing an additional 6,744 shares during the period. Amalgamated Bank boosted its stake in Crescent Energy by 3.0% in the 1st quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after purchasing an additional 1,506 shares during the period. KBC Group NV acquired a new position in Crescent Energy in the 1st quarter valued at $117,000. Finally, Illinois Municipal Retirement Fund increased its position in Crescent Energy by 25.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 102,704 shares of the company's stock worth $1,154,000 after buying an additional 20,954 shares during the period. Institutional investors and hedge funds 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.