Crescent Energy (NYSE:CRGY) PT Raised to $20.00 at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price objective upped by Wells Fargo & Company from $19.00 to $20.00 in a report released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Mizuho restated a neutral rating and set a $13.00 target price (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Truist Financial dropped their target price on Crescent Energy from $23.00 to $19.00 and set a buy rating on the stock in a research report on Friday, April 5th. TheStreet raised shares of Crescent Energy from a d rating to a c- rating in a report on Wednesday, February 14th. Stephens reaffirmed an overweight rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, March 5th. Finally, Tudor, Pickering, Holt & Co. began coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They issued a buy rating and a $18.00 price target on the stock. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $16.38.

Crescent Energy Trading Down 1.9 %

NYSE:CRGY opened at $10.77 on Monday. The company has a market cap of $1.93 billion, a P/E ratio of 8.35 and a beta of 2.24. The stock’s fifty day moving average price is $11.30 and its two-hundred day moving average price is $11.55. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $14.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.37. The firm had revenue of $657.73 million for the quarter, compared to the consensus estimate of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. As a group, analysts expect that Crescent Energy will post 0.99 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 4.46%. Crescent Energy’s dividend payout ratio is presently 37.21%.

Insider Activity at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 13.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. grew its stake in shares of Crescent Energy by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after buying an additional 530,199 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Crescent Energy by 0.4% during the fourth quarter. Teacher Retirement System of Texas now owns 8,029,515 shares of the company’s stock valued at $106,069,000 after buying an additional 34,631 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Crescent Energy by 22,968.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock valued at $48,328,000 after buying an additional 3,642,584 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Crescent Energy by 21.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock valued at $22,042,000 after buying an additional 291,990 shares during the last quarter. Finally, Pingora Partners LLC bought a new position in shares of Crescent Energy during the fourth quarter valued at about $17,554,000. Institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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 regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.