Stephens Increases Crescent Energy (NYSE:CRGY) Price Target to $16.00

Crescent Energy (NYSE:CRGY) had its price objective raised by Stephens from $15.00 to $16.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target on the stock. Wolfe Research began coverage on Crescent Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday. They issued an “outperform” rating on the stock. Finally, Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.70.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $12.43 on Monday. The business’s 50 day moving average price is $11.81 and its 200 day moving average price is $11.75. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 621.50 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. Crescent Energy has a one year low of $9.88 and a one year high of $13.85.

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

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is currently 2,400.00%.

Insiders Place Their Bets

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the purchase, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 12,294 shares of company stock worth $131,297 in the last ninety days. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its holdings in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy during the second quarter worth approximately $32,000. Spirit of America Management Corp NY purchased a new stake in shares of Crescent Energy during the second quarter worth approximately $36,000. Farther Finance Advisors LLC raised its holdings in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

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.