Crescent Energy (NYSE:CRGY) Stock Price Down 2.7% – What’s Next?

Crescent Energy (NYSE:CRGY)’s stock price fell 2.7% during trading on Monday . The stock traded as low as $12.15 and last traded at $12.22. 643,252 shares traded hands during trading, a decline of 73% from the average session volume of 2,359,427 shares. The stock had previously closed at $12.56.

Analyst Upgrades and Downgrades

CRGY has been the subject of a number of analyst reports. Wolfe Research began coverage on Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target for the company. Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Mizuho dropped their price target on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Evercore ISI reissued an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company lowered their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.70.

Crescent Energy Stock Performance

The company has a fifty day moving average of $11.76 and a two-hundred day moving average of $11.74. The stock has a market capitalization of $2.15 billion, a P/E ratio of -60.65 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The business had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. On average, equities analysts anticipate that Crescent Energy will post 1.27 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.96%. Crescent Energy’s dividend payout ratio (DPR) is -240.00%.

Insider Activity

In other Crescent Energy news, Director Michael Duginski acquired 9,344 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders acquired 12,294 shares of company stock valued at $131,297. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its position in shares of Crescent Energy by 135.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,934 shares of the company’s stock valued at $404,000 after buying an additional 21,221 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares during the last quarter. Montgomery Investment Management Inc. bought a new stake in shares of Crescent Energy during the 3rd quarter valued at about $272,000. Koss Olinger Consulting LLC bought a new stake in shares of Crescent Energy during the 3rd quarter valued at about $533,000. Finally, nVerses Capital LLC bought a new position in Crescent Energy in the 3rd quarter worth about $206,000. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.