Crescent Energy (NYSE:CRGY) Earns Buy Rating from Analysts at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. initiated coverage on shares of Crescent Energy (NYSE:CRGY - Free Report) in a report published on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $18.00 target price on the stock.

Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Crescent Energy from a d rating to a c- rating in a research note on Wednesday, February 14th. Mizuho reiterated a neutral rating and issued a $13.00 price target (down previously from $14.00) on shares of Crescent Energy in a research note on Friday, March 22nd. Raymond James decreased 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 research note on Wednesday, January 24th. Truist Financial decreased their price target on shares of Crescent Energy from $23.00 to $19.00 and set a buy rating on the stock in a research note on Friday, April 5th. Finally, Stephens reiterated an overweight rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, March 5th. One investment 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 company's stock. According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $16.25.

Crescent Energy Stock Down 0.1 %

CRGY stock traded down $0.01 during midday trading on Wednesday, hitting $11.99. The company's stock had a trading volume of 2,746,006 shares, compared to its average volume of 1,363,848. 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 twelve month low of $9.17 and a twelve month high of $14.22. The company's fifty day moving average price is $11.21 and its 200 day moving average price is $11.60. The stock has a market capitalization of $2.15 billion, a P/E ratio of 9.29 and a beta of 2.24.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.37. The firm had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. Crescent Energy had a net margin of 2.84% and a return on equity of 13.30%. As a group, equities research analysts predict that Crescent Energy will post 1.28 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy's dividend payout ratio is currently 37.21%.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the company's stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.20% of the company's stock.

Institutional Trading of Crescent Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. lifted its holdings in shares of Crescent Energy by 4.3% during the 2nd quarter. American International Group Inc. now owns 15,210 shares of the company's stock worth $190,000 after acquiring an additional 625 shares during the period. Magnolia Capital Advisors LLC lifted its stake in Crescent Energy by 0.8% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 125,509 shares of the company's stock valued at $1,550,000 after purchasing an additional 982 shares during the last quarter. UBS Group AG lifted its stake in Crescent Energy by 8.0% in the 3rd quarter. UBS Group AG now owns 13,500 shares of the company's stock valued at $182,000 after purchasing an additional 1,000 shares during the last quarter. Sei Investments Co. lifted its stake in Crescent Energy by 3.7% in the 1st quarter. Sei Investments Co. now owns 35,265 shares of the company's stock valued at $399,000 after purchasing an additional 1,265 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Crescent Energy by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 20,000 shares of the company's stock valued at $240,000 after purchasing an additional 1,266 shares during the last quarter. Institutional investors 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 the Eagle Ford, Marcellus, Utica, and Rockies in the United States.