Crescent Energy (NYSE:CRGY) Receives $16.29 Consensus Price Target from Analysts

Shares of Crescent Energy (NYSE:CRGYGet Free Report) have earned a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.29.

CRGY has been the subject of a number of recent research reports. Evercore ISI initiated coverage on Crescent Energy in a research report on Friday, December 1st. They issued an “outperform” rating and a $16.00 target price for the company. Raymond James reduced their price target on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. TheStreet upgraded Crescent Energy from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Mizuho reiterated a “neutral” rating and issued a $13.00 price target (down from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, March 5th.

View Our Latest Research Report on CRGY

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $11.37 on Friday. The business’s fifty day simple moving average is $11.08 and its 200 day simple moving average is $11.63. The firm has a market capitalization of $2.04 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 0.86 and a beta of 2.23. Crescent Energy has a 12 month low of $9.17 and a 12 month high of $14.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Thursday, March 14th. Crescent Energy’s dividend payout ratio (DPR) is presently 37.21%.

Insider Activity

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas purchased a new position in shares of Crescent Energy during the 3rd quarter worth approximately $101,055,000. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 94.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock worth $96,585,000 after buying an additional 3,705,389 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Crescent Energy by 22,968.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after buying an additional 3,642,584 shares during the last quarter. Pingora Partners LLC purchased a new stake in shares of Crescent Energy in the 4th quarter worth approximately $17,554,000. Finally, Northwestern University purchased a new stake in shares of Crescent Energy in the 3rd quarter worth approximately $13,789,000. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

(Get Free Report

Crescent Energy Company, an energy company, acquires, 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, and Mid-Con in the United States.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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