Analysts Set Crescent Energy (NYSE:CRGY) Price Target at $17.60

Shares of Crescent Energy (NYSE:CRGY) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.45.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating for the company. Truist Financial raised their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Finally, Raymond James boosted their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35 % increase in their position. The disclosure for this purchase can be found here. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crescent Energy

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after purchasing an additional 705 shares in the last quarter. Jones Financial Companies Lllp grew its position in Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after purchasing an additional 2,377 shares in the last quarter. Amalgamated Bank grew its position in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Quarry LP grew its position in Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $64,000 after purchasing an additional 3,155 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

CRGY stock opened at $10.87 on Friday. The company has a fifty day moving average price of $14.38 and a 200-day moving average price of $13.48. The company has a market capitalization of $2.81 billion, a P/E ratio of 17.52 and a beta of 2.18. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is presently -69.57%.

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.