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

Crescent Energy (NYSE:CRGY - Free Report) had its price objective trimmed by KeyCorp from $18.00 to $14.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also commented on the stock. 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 report on Monday, January 13th. Wells Fargo & Company decreased their price target on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating on the stock. Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Finally, Williams Trading set a $16.00 price target on shares of Crescent Energy in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Crescent Energy Trading Up 2.7 %

Shares of NYSE:CRGY traded up $0.23 during midday trading on Monday, hitting $8.73. 1,665,961 shares of the stock were exchanged, compared to its average volume of 3,254,348. The business's 50-day moving average price is $10.43 and its 200 day moving average price is $13.01. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 14.08 and a beta of 1.88. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. 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 payout ratio is -69.57%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Public Employees Retirement System of Ohio lifted its stake in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after buying an additional 705 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after acquiring an additional 2,377 shares during the period. Quarry LP lifted its position in shares of Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after acquiring an additional 3,155 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after acquiring an additional 1,621 shares during the period. Finally, Toth Financial Advisory Corp purchased a new position in shares of Crescent Energy in the fourth quarter valued at $131,000. Institutional investors own 52.11% of the company's stock.

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.