Brokerages Set Crescent Energy (NYSE:CRGY) Target Price at $16.25

Shares of Crescent Energy (NYSE:CRGY) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $16.38.

CRGY has been the topic of several research analyst reports. Truist Financial lowered their price objective on Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Tudor, Pickering, Holt & Co. initiated coverage on Crescent Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective on the stock. Raymond James lowered their price objective on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Mizuho restated a “neutral” rating and issued a $13.00 price objective (down from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Finally, TheStreet upgraded Crescent Energy from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th.

Insiders Place Their Bets

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business’s stock in a transaction that occurred 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 legal filing with the SEC, which can be accessed through this hyperlink. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crescent Energy

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after acquiring an additional 2,934 shares during the last quarter. Amalgamated Bank boosted its position in shares of Crescent Energy by 58.5% during the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after buying an additional 2,748 shares during the period. J.W. Cole Advisors Inc. purchased a new position in shares of Crescent Energy during the fourth quarter valued at approximately $136,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Crescent Energy during the fourth quarter valued at approximately $139,000. Finally, Carson Advisory Inc. purchased a new position in shares of Crescent Energy during the fourth quarter valued at approximately $144,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

NYSE CRGY opened at $10.77 on Thursday. The company has a market capitalization of $1.93 billion, a PE ratio of 8.35 and a beta of 2.24. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.82. The business’s fifty day moving average is $11.30 and its 200 day moving average is $11.55. Crescent Energy has a fifty-two week low of $9.17 and a fifty-two week high of $14.22.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, March 4th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.37. The company 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%. Sell-side analysts predict that Crescent Energy will post 0.99 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 4.46%. Crescent Energy’s dividend payout ratio (DPR) is 37.21%.

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.