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

Crescent Energy (NYSE:CRGY - Free Report) had its price target upped by Wells Fargo & Company from $19.00 to $20.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on CRGY. Stephens restated an overweight rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, March 5th. Truist Financial lowered their target price on shares of Crescent Energy from $23.00 to $19.00 and set a buy rating for the company in a report on Friday, April 5th. Raymond James cut their price target 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. TheStreet raised shares of Crescent Energy from a d rating to a c- rating in a research report on Wednesday, February 14th. Finally, Mizuho restated a neutral rating and set a $13.00 target price (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $16.38.

Crescent Energy Price Performance

Shares of Crescent Energy stock traded up $0.04 during trading hours on Monday, reaching $11.02. The company's stock had a trading volume of 961,594 shares, compared to its average volume of 1,345,273. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82. Crescent Energy has a one year low of $9.17 and a one year high of $14.22. The firm has a 50 day moving average price of $11.29 and a 200-day moving average price of $11.55. The stock has a market cap of $1.98 billion, a P/E ratio of 8.47 and a beta of 2.24.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.37. The business had revenue of $657.73 million for the quarter, compared to the consensus estimate of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. On average, analysts predict that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy's dividend payout ratio is presently 37.21%.

Insider Buying and Selling

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. lifted its position in shares of Crescent Energy by 94.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company's stock worth $96,585,000 after purchasing an additional 3,705,389 shares during the period. Jump Financial LLC lifted its holdings in Crescent Energy by 1,063.1% during the third quarter. Jump Financial LLC now owns 139,104 shares of the company's stock worth $1,758,000 after buying an additional 127,144 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Crescent Energy during the third quarter worth $6,320,000. Graham Capital Management L.P. boosted its position in Crescent Energy by 53.2% during the 3rd quarter. Graham Capital Management L.P. now owns 77,735 shares of the company's stock valued at $983,000 after acquiring an additional 27,010 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Crescent Energy by 72.3% in the 3rd quarter. Barclays PLC now owns 37,727 shares of the company's stock valued at $477,000 after acquiring an additional 15,827 shares during the period. 52.11% of the stock is currently owned by institutional investors.

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 the Eagle Ford, Marcellus, Utica, and Rockies in the United States.