Crescent Energy (NYSE:CRGY) PT Raised to $14.00

Crescent Energy (NYSE:CRGY - Free Report) had its price objective boosted by Mizuho from $13.00 to $14.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently commented on CRGY. Truist Financial cut their price objective 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 target price on Crescent Energy from $16.00 to $15.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Tudor, Pickering, Holt & Co. started coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They issued a buy rating and a $18.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the company an overweight rating in a report on Monday, April 22nd. Finally, TheStreet raised shares of Crescent Energy from a d rating to a c- rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of Buy and an average target price of $16.50.

Crescent Energy Price Performance

NYSE:CRGY traded up $0.13 during trading hours on Monday, reaching $12.29. 1,121,166 shares of the company were exchanged, compared to its average volume of 1,388,565. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The firm has a market cap of $2.18 billion, a PE ratio of -61.45 and a beta of 2.29. Crescent Energy has a twelve month low of $9.17 and a twelve month high of $14.22. The stock's 50-day moving average is $11.34 and its 200-day moving average is $11.48.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share 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 the consensus estimate of $584.12 million. On average, sell-side analysts anticipate that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.91%. Crescent Energy's payout ratio is presently -239.99%.

Insider Buying and Selling

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business'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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 13.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crescent Energy

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

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.