Crescent Energy (NYSE:CRGY) Price Target Lowered to $13.00 at Mizuho

Crescent Energy (NYSE:CRGY) had its price objective lowered by Mizuho from $14.00 to $13.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on CRGY. Wolfe Research began coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $16.00 price target for the company. Wells Fargo & Company upped their price target on Crescent Energy from $20.00 to $21.00 and gave the stock an overweight rating in a report on Thursday, September 5th. Truist Financial reduced their price target on Crescent Energy from $20.00 to $19.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Stephens reissued an overweight rating and set a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. Finally, KeyCorp started coverage on shares of Crescent Energy in a report on Thursday, June 27th. They issued an overweight rating and a $16.00 target price on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $16.27.

Crescent Energy Trading Up 3.2 %

Shares of CRGY stock opened at $11.46 on Monday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The firm has a market cap of $2.03 billion, a PE ratio of -57.28 and a beta of 2.26. The company has a 50-day moving average of $11.37 and a two-hundred day moving average of $11.58. 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 released its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping 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 company had revenue of $653.28 million for the quarter, compared to analysts’ expectations of $619.00 million. On average, analysts predict that Crescent Energy will post 1.31 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 4.19%. Crescent Energy’s dividend payout ratio (DPR) is -240.00%.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski purchased 9,344 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,135,480.22. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 12,294 shares of company stock valued at $131,297 in the last ninety days. Insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

Several hedge funds have recently modified their holdings of the business. Jupiter Asset Management Ltd. acquired a new stake in shares of Crescent Energy in the first quarter valued at about $2,877,000. Vanguard Group Inc. lifted its position in shares of Crescent Energy by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after acquiring an additional 530,199 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Crescent Energy by 901.7% during the 1st quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock worth $1,198,000 after acquiring an additional 90,630 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Crescent Energy in the 4th quarter worth approximately $1,393,000. Finally, Moody National Bank Trust Division acquired a new stake in shares of Crescent Energy in the 2nd quarter worth approximately $769,000. 52.11% of the stock is owned by institutional investors and hedge funds.

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.