Crescent Energy (NYSE:CRGY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Crescent Energy (NYSE:CRGY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $16.30.

Several research analysts have issued reports on CRGY shares. Wells Fargo & Company lowered their price target on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Mizuho lowered their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Stephens reaffirmed an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Siebert Williams Shank started coverage on Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating for the company.

Insider Buying and Selling

In other news, Director Michael Duginski acquired 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the acquisition, the director now owns 259,607 shares in the company, valued at $2,744,045.99. The trade was a 8.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Insiders have bought a total of 24,932 shares of company stock worth $263,219 in the last ninety days. Corporate insiders own 13.20% of the company's stock.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Crescent Energy by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock valued at $303,150,000 after buying an additional 4,332,831 shares in the last quarter. American Century Companies Inc. boosted its holdings in Crescent Energy by 10.0% in the 1st quarter. American Century Companies Inc. now owns 13,967,599 shares of the company's stock valued at $156,996,000 after purchasing an additional 1,266,674 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Crescent Energy during the 4th quarter valued at $170,905,000. Bank of New York Mellon Corp increased its holdings in shares of Crescent Energy by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 9,435,708 shares of the company's stock worth $106,057,000 after purchasing an additional 173,832 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Crescent Energy by 3.3% in the first quarter. Jennison Associates LLC now owns 4,944,038 shares of the company's stock worth $55,571,000 after purchasing an additional 158,712 shares during the period. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 0.5%

Shares of NYSE CRGY traded down $0.04 during trading on Friday, reaching $8.64. The company had a trading volume of 2,635,727 shares, compared to its average volume of 3,355,612. The company's fifty day moving average price is $8.89 and its 200-day moving average price is $12.37. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The stock has a market cap of $2.21 billion, a P/E ratio of 13.94 and a beta of 1.86. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. As a group, research analysts expect that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.12 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a yield of 5.56%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

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.