Crescent Energy (NYSE:CRGY) Given New $12.00 Price Target at Mizuho

Crescent Energy (NYSE:CRGY) had its price target cut by Mizuho from $13.00 to $12.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on the stock. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Truist Financial boosted their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.30.

Crescent Energy Trading Up 4.6%

NYSE CRGY opened at $9.52 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a market capitalization of $2.43 billion, a PE ratio of 15.35 and a beta of 1.86. The firm has a 50 day moving average of $9.35 and a two-hundred day moving average of $12.67.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The business had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. As a group, research analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.04%. Crescent Energy’s payout ratio is -106.67%.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Duginski bought 4,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the transaction, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. This represents a 1.74% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 24,932 shares of company stock valued at $263,219. 13.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CRGY. Pacer Advisors Inc. acquired a new position in shares of Crescent Energy during the 4th quarter worth $170,905,000. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock worth $303,150,000 after purchasing an additional 4,332,831 shares during the period. Jennison Associates LLC boosted its position in shares of Crescent Energy by 234.4% in the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock worth $69,914,000 after buying an additional 3,354,362 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Crescent Energy by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock worth $135,316,000 after buying an additional 3,305,833 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Crescent Energy in the 4th quarter worth about $36,593,000. 52.11% of the stock is owned by institutional investors and hedge funds.

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.