Crescent Energy (NYSE:CRGY) Stock Price Up 5.8%

Crescent Energy (NYSE:CRGY - Get Free Report)'s stock price shot up 5.8% during trading on Tuesday . The company traded as high as $11.47 and last traded at $11.40. 365,580 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,316,234 shares. The stock had previously closed at $10.78.

Analysts Set New Price Targets

CRGY has been the topic of several research analyst reports. Raymond James lowered their price target on Crescent Energy from $16.00 to $15.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Truist Financial lowered their target price on Crescent Energy from $23.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Wells Fargo & Company boosted their price target on Crescent Energy from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, April 22nd. Tudor, Pickering, Holt & Co. initiated coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a "buy" rating and a $18.00 price objective on the stock. Finally, Mizuho restated a "neutral" rating and set a $13.00 target price (down from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Crescent Energy has an average rating of "Buy" and an average price target of $16.38.

Crescent Energy Stock Performance

The company has a market cap of $2.13 billion, a P/E ratio of 9.19 and a beta of 2.29. The business's 50 day simple moving average is $11.23 and its 200 day simple moving average is $11.48. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.58 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 the consensus estimate of $584.12 million. Crescent Energy had a net margin of 2.84% and a return on equity of 13.30%. Sell-side analysts predict that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, May 20th. Crescent Energy's dividend payout ratio (DPR) is 37.21%.

Insider Activity at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock worth $54,000 after buying an additional 2,934 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Crescent Energy by 58.5% during the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company's stock worth $98,000 after acquiring an additional 2,748 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Crescent Energy during the 4th quarter valued at approximately $136,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Crescent Energy in the fourth quarter valued at $139,000. Finally, Carson Advisory Inc. bought a new stake in Crescent Energy in the fourth quarter worth $144,000. 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 Eagle Ford and Uinta basins. The company is based in Houston, Texas.