Crescent Energy (NYSE:CRGY) Research Coverage Started at Pickering Energy Partners

Pickering Energy Partners began coverage on shares of Crescent Energy (NYSE:CRGY) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued an outperform rating on the stock.

CRGY has been the topic of several other research 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 on the stock. Truist Financial dropped their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company dropped their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Mizuho dropped their target price on Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. assumed coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and an average target price of $15.70.

Crescent Energy Stock Up 2.5 %

Shares of NYSE:CRGY opened at $12.43 on Monday. The business’s 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $11.75. The firm has a market cap of $2.21 billion, a P/E 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 52-week low of $9.88 and a 52-week high of $13.85.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. As a group, research analysts forecast that Crescent Energy will post 1.27 EPS for the current fiscal year.

Crescent Energy Announces Dividend

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

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have acquired 12,294 shares of company stock worth $131,297. 13.20% of the stock is owned by company insiders.

Institutional Trading of Crescent Energy

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its position in Crescent Energy by 444.8% in the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares during the last quarter. Marshall Wace LLP increased its position in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after buying an additional 2,098,303 shares during the last quarter. Zimmer Partners LP purchased a new stake in Crescent Energy in the first quarter worth $17,731,000. Dimensional Fund Advisors LP increased its position in Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock worth $31,477,000 after buying an additional 1,226,027 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Crescent Energy by 13.9% in the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after buying an additional 1,137,367 shares during the last quarter. 52.11% of the stock is currently owned by 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.