Crescent Energy (NYSE:CRGY - Free Report) had its price target increased by Stephens from $15.00 to $16.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.
A number of other equities research analysts have also recently weighed in on CRGY. Wells Fargo & Company dropped their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Truist Financial cut their price target on Crescent Energy from $19.00 to $15.00 and set a "buy" rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a "neutral" rating and a $12.00 price target on the stock. Evercore ISI restated an "outperform" rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Wolfe Research began coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They set an "outperform" rating and a $16.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $15.70.
View Our Latest Report on CRGY
Crescent Energy Price Performance
NYSE CRGY traded down $0.35 on Monday, reaching $12.21. The company's stock had a trading volume of 2,108,325 shares, compared to its average volume of 2,366,470. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $11.71 and a 200 day moving average price of $11.74. The firm has a market cap of $2.17 billion, a PE ratio of -61.05 and a beta of 2.19. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The firm had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. Sell-side analysts expect that Crescent Energy will post 1.27 EPS for the current year.
Crescent Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 3.93%. Crescent Energy's payout ratio is presently -240.00%.
Insiders Place Their Bets
In related news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the purchase, the director now directly owns 201,081 shares in the company, valued at $2,135,480.22. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders acquired 12,294 shares of company stock valued at $131,297. Company insiders own 13.20% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Montgomery Investment Management Inc. acquired a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $272,000. Koss Olinger Consulting LLC acquired a new stake in shares of Crescent Energy during the third quarter worth $533,000. nVerses Capital LLC bought a new stake in Crescent Energy in the 3rd quarter valued at $206,000. Creative Planning lifted its position in Crescent Energy by 37.1% in the 3rd quarter. Creative Planning now owns 112,834 shares of the company's stock valued at $1,236,000 after acquiring an additional 30,530 shares in the last quarter. Finally, Wedmont Private Capital acquired a new position in Crescent Energy in the 3rd quarter worth $156,000. 52.11% of the stock is owned by institutional investors and hedge funds.
Crescent Energy Company Profile
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Get Free Report)
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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