Crescent Energy (NYSE:CRGY) Given Consensus Rating of “Moderate Buy” by Analysts

Crescent Energy (NYSE:CRGY) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.09.

A number of equities analysts recently issued reports on CRGY shares. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Monday, March 3rd. Mizuho boosted their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price target on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Finally, Raymond James reissued a “strong-buy” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th.

Insider Activity at Crescent Energy

In other Crescent Energy news, Director Michael Duginski purchased 4,000 shares of the stock in a transaction dated 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 completion of the acquisition, the director now owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This represents a 1.74 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. In the last 90 days, insiders bought 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate insiders.

Institutional Trading of Crescent Energy

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Crescent Energy by 26.4% in the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock worth $303,150,000 after buying an additional 4,332,831 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Crescent Energy by 12.7% during the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock worth $185,561,000 after acquiring an additional 1,436,084 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Crescent Energy during the fourth quarter valued at $170,905,000. Bank of New York Mellon Corp grew its stake in Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock valued at $135,316,000 after purchasing an additional 3,305,833 shares in the last quarter. Finally, State Street Corp increased its position in Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Trading Up 0.7 %

NYSE:CRGY opened at $7.88 on Thursday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 12.70 and a beta of 1.88. 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 has a 1 year low of $7.14 and a 1 year high of $16.94. The business has a fifty day moving average of $12.66 and a 200-day moving average of $13.46.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is currently -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.