Crescent Energy’s (CRGY) “Overweight” Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Crescent Energy (NYSE:CRGY) in a report released on Monday morning,Benzinga reports. Stephens currently has a $17.00 target price on the stock.

A number of other research firms have also weighed in on CRGY. Mizuho raised their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Siebert Williams Shank started coverage on Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating on the stock. Raymond James upped their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, 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 report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy has an average rating of “Buy” and a consensus target price of $17.60.

Crescent Energy Trading Down 8.2 %

CRGY opened at $11.59 on Monday. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The firm has a market capitalization of $2.65 billion, a PE ratio of 18.69 and a beta of 2.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50-day moving average is $15.02 and its 200 day moving average is $13.52.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.14%. Crescent Energy’s payout ratio is -69.57%.

Institutional Trading of Crescent Energy

Several hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 3,135 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Crescent Energy by 135.1% in the third quarter. Harbor Capital Advisors Inc. now owns 36,934 shares of the company’s stock worth $404,000 after purchasing an additional 21,221 shares in the last quarter. Amalgamated Bank increased its stake in shares of Crescent Energy by 86.4% in the third 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. Callahan Advisors LLC bought a new stake in shares of Crescent Energy in the third quarter valued at approximately $602,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Crescent Energy by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company’s stock valued at $7,755,000 after buying an additional 46,448 shares in 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.