Crescent Energy (NYSE:CRGY) Given Average Recommendation of “Hold” by Brokerages

Crescent Energy (NYSE:CRGY – Get Rating) has earned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.50.

A number of research firms have commented on CRGY. Truist Financial lowered their target price on shares of Crescent Energy to $20.00 in a report on Wednesday, November 16th. Mizuho decreased their price target on shares of Crescent Energy from $19.00 to $18.00 in a report on Friday. Credit Suisse Group began coverage on shares of Crescent Energy in a report on Tuesday, February 14th. They issued a “neutral” rating and a $14.00 price target for the company. Finally, Bank of America lowered shares of Crescent Energy from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $13.00 to $14.00 in a report on Wednesday, January 25th.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its stake in Crescent Energy by 10.2% in the 4th quarter. Alliancebernstein L.P. now owns 37,780 shares of the company’s stock worth $453,000 after purchasing an additional 3,500 shares during the period. MetLife Investment Management LLC lifted its position in Crescent Energy by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 20,000 shares of the company’s stock worth $240,000 after buying an additional 1,266 shares in the last quarter. Legal & General Group Plc lifted its position in Crescent Energy by 11.4% during the 4th quarter. Legal & General Group Plc now owns 14,606 shares of the company’s stock worth $175,000 after buying an additional 1,500 shares in the last quarter. Magnolia Capital Advisors LLC lifted its position in Crescent Energy by 18.2% during the 4th quarter. Magnolia Capital Advisors LLC now owns 86,634 shares of the company’s stock worth $1,039,000 after buying an additional 13,334 shares in the last quarter. Finally, Delphia USA Inc. lifted its position in Crescent Energy by 226.7% during the 4th quarter. Delphia USA Inc. now owns 64,374 shares of the company’s stock worth $772,000 after buying an additional 44,668 shares in the last quarter. 10.92% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Price Performance

CRGY opened at $11.21 on Friday. The company has a fifty day moving average price of $11.88 and a two-hundred day moving average price of $13.47. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.56 and a current ratio of 0.58. Crescent Energy has a 52 week low of $10.73 and a 52 week high of $19.65. The firm has a market capitalization of $1.90 billion, a PE ratio of 5.12 and a beta of 2.43.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 20th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend is Friday, March 17th. Crescent Energy’s payout ratio is presently 31.05%.

Crescent Energy Company Profile

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Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.