Crescent Energy (NYSE:CRGY) Given New $19.00 Price Target at Truist Financial

Crescent Energy (NYSE:CRGY) had its target price cut by Truist Financial from $20.00 to $19.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Tudor, Pickering, Holt & Co. began coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They set a buy rating and a $18.00 price objective for the company. KeyCorp began coverage on shares of Crescent Energy in a report on Thursday, June 27th. They set an overweight rating and a $16.00 price objective for the company. Wolfe Research began coverage on shares of Crescent Energy in a report on Thursday, July 18th. They set an outperform rating and a $16.00 price objective for the company. Mizuho boosted their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Finally, Wells Fargo & Company boosted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $16.40.

Crescent Energy Stock Performance

NYSE CRGY opened at $12.12 on Monday. Crescent Energy has a 52-week low of $10.11 and a 52-week high of $14.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $2.15 billion, a P/E ratio of -60.60 and a beta of 2.32. The company has a fifty day moving average of $12.15 and a 200-day moving average of $11.58.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.28. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The company had revenue of $657.47 million during the quarter, compared to the consensus estimate of $579.44 million. As a group, equities research analysts predict that Crescent Energy will post 1.66 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Monday, May 20th. Crescent Energy’s payout ratio is -239.99%.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after buying an additional 1,137,367 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Crescent Energy by 0.4% during the 4th 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 period. The Manufacturers Life Insurance Company lifted its holdings in shares of Crescent Energy by 22,968.6% during the 4th 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 period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Crescent Energy by 21.2% during the 4th 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 period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Crescent Energy by 63.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock valued at $18,930,000 after buying an additional 614,969 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.