Crescent Energy (NYSE:CRGY) Price Target Raised to $20.00

Crescent Energy (NYSE:CRGY) had its target price lifted by Truist Financial from $19.00 to $20.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Stephens reiterated an overweight rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, March 5th. Mizuho increased their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Wells Fargo & Company increased their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Raymond James decreased their price objective on shares of Crescent Energy from $16.00 to $15.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. Finally, TheStreet raised shares of Crescent Energy from a d rating to a c- rating in a report on Wednesday, February 14th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy has an average rating of Buy and an average target price of $16.63.

Crescent Energy Trading Up 0.9 %

NYSE CRGY opened at $12.37 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a market cap of $2.20 billion, a PE ratio of -61.85 and a beta of 2.29. The company has a 50 day moving average price of $11.55 and a 200 day moving average price of $11.50. Crescent Energy has a 52 week low of $9.17 and a 52 week high of $14.22.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.21 by $0.37. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The firm had revenue of $657.73 million during the quarter, compared to analyst estimates of $584.12 million. As a group, sell-side analysts forecast that Crescent Energy will post 1.81 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Tuesday, May 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Monday, May 20th. Crescent Energy’s payout ratio is currently -240.00%.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently made changes to their positions in CRGY. Vanguard Group Inc. increased its position in shares of Crescent Energy by 94.1% during the third quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock valued at $96,585,000 after acquiring an additional 3,705,389 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Crescent Energy by 22,968.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock valued at $48,328,000 after acquiring an additional 3,642,584 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Crescent Energy during the first quarter valued at about $17,731,000. Pingora Partners LLC acquired a new stake in shares of Crescent Energy during the fourth quarter valued at about $17,554,000. Finally, Yaupon Capital Management LP acquired a new stake in shares of Crescent Energy during the first quarter valued at about $10,710,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.