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

Crescent Energy (NYSE:CRGY) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.45.

A number of equities research analysts have recently issued reports on the stock. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Raymond James increased their price target 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. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Finally, Williams Trading set a $16.00 price target on shares of Crescent Energy in a report on Wednesday, March 5th.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski purchased 4,000 shares of Crescent Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the transaction, the director now owns 233,607 shares of the company’s stock, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position 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 buying an additional 3,135 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after buying an additional 705 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after buying an additional 2,377 shares in the last quarter. Amalgamated Bank boosted its position in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares in the last quarter. Finally, Quarry LP boosted its position in Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after buying an additional 3,155 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Up 3.6 %

Shares of CRGY stock opened at $10.87 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day moving average is $14.38 and its 200-day moving average is $13.48. The stock has a market cap of $2.81 billion, a price-to-earnings 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.

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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. Crescent Energy’s dividend payout ratio is presently -69.57%.

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.