Crescent Energy (NYSE:CRGY) Given New $21.00 Price Target at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price target lifted by Wells Fargo & Company from $20.00 to $21.00 in a report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Stephens reiterated an overweight rating and set a $20.00 price target on shares of Crescent Energy in a research note on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They set an outperform rating and a $16.00 price target on the stock. Truist Financial cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set a buy rating on the stock in a research note on Monday, July 22nd. Mizuho lifted 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, KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They set an overweight rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy currently has an average rating of Buy and an average price target of $16.80.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $10.71 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The stock has a market capitalization of $1.90 billion, a PE ratio of -53.55 and a beta of 2.26. The firm has a 50 day moving average of $11.61 and a two-hundred day moving average of $11.61.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. On average, research analysts predict that Crescent Energy will post 1.43 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 4.48%. Crescent Energy’s dividend payout ratio is presently -240.00%.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the purchase, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have acquired 11,344 shares of company stock worth $120,723. 13.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRGY. Amalgamated Bank increased its stake in shares of Crescent Energy by 58.5% during the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after acquiring an additional 2,748 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Crescent Energy by 36.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 642,578 shares of the company’s stock worth $8,488,000 after acquiring an additional 171,579 shares during the period. Versor Investments LP increased its stake in shares of Crescent Energy by 68.1% during the fourth quarter. Versor Investments LP now owns 20,000 shares of the company’s stock worth $264,000 after acquiring an additional 8,100 shares during the period. Teacher Retirement System of Texas increased 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 worth $106,069,000 after acquiring an additional 34,631 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Crescent Energy during the fourth quarter worth about $1,393,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.