Bank of America lowered shares of Crescent Energy (NYSE:CRGY – Get Rating) from a neutral rating to an underperform rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has $14.00 price target on the stock, up from their previous price target of $13.00.
Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group began coverage on Crescent Energy in a research note on Wednesday, October 19th. They set a hold rating and a $15.00 target price for the company. Wells Fargo & Company began coverage on Crescent Energy in a research note on Wednesday, September 28th. They set an overweight rating and a $18.00 target price for the company. Mizuho began coverage on Crescent Energy in a research note on Monday, January 9th. They set a buy rating and a $19.00 target price for the company. Finally, Truist Financial dropped their price target on Crescent Energy to $20.00 in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Crescent Energy has an average rating of Hold and a consensus target price of $17.20.
Get
Crescent Energy alerts:
Crescent Energy Stock Performance
Shares of NYSE:CRGY opened at $12.40 on Wednesday. Crescent Energy has a 1 year low of $10.83 and a 1 year high of $19.65. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.56 and a quick ratio of 0.56. The business's 50 day simple moving average is $12.64 and its 200 day simple moving average is $14.04.
Crescent Energy (NYSE:CRGY – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $4.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $3.39. The business had revenue of $864.96 million for the quarter, compared to the consensus estimate of $678.00 million. Crescent Energy had a return on equity of 130.62% and a net
margin of 11.11%. On average, sell-side analysts anticipate that Crescent Energy will post 4.27 earnings per share for the current fiscal year.
Crescent Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 7th. Stockholders of record on Wednesday, November 23rd were paid a $0.17 dividend. The ex-dividend date was Tuesday, November 22nd. This represents a $0.68 annualized dividend and a dividend yield of 5.48%.
Insider Activity
In other news, CFO Brandi Kendall bought 2,500 shares of Crescent Energy stock in a transaction dated Monday, November 14th. The stock was bought at an average cost of $14.09 per share, for a total transaction of $35,225.00. Following the purchase, the chief financial officer now directly owns 8,500 shares in the company, valued at approximately $119,765. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David C. Rockecharlie purchased 2,000 shares of the business's stock in a transaction on Wednesday, November 16th. The stock was acquired at an average price of $13.84 per share, for a total transaction of $27,680.00. Following the purchase, the chief executive officer now owns 35,000 shares of the company's stock, valued at $484,400. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brandi Kendall bought 2,500 shares of the company's stock in a transaction on Monday, November 14th. The shares were purchased at an average cost of $14.09 per share, for a total transaction of $35,225.00. Following the transaction, the chief financial officer now owns 8,500 shares in the company, valued at $119,765. The disclosure for this purchase can be found here. Insiders bought a total of 8,350 shares of company stock worth $116,110 in the last three months. Company insiders own 27.00% of the company's stock.
Hedge Funds Weigh In On Crescent Energy
Hedge funds have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $580,000. Counterpoint Mutual Funds LLC raised its holdings in shares of Crescent Energy by 39.2% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 9,674 shares of the company's stock worth $116,000 after purchasing an additional 2,724 shares during the period. Mraz Amerine & Associates Inc. raised its holdings in shares of Crescent Energy by 38.4% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 123,898 shares of the company's stock worth $1,486,000 after purchasing an additional 34,346 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Crescent Energy by 15.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 105,177 shares of the company's stock worth $1,416,000 after purchasing an additional 13,980 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Crescent Energy by 4.9% in the 3rd quarter. California State Teachers Retirement System now owns 45,694 shares of the company's stock worth $615,000 after purchasing an additional 2,125 shares during the period. Institutional investors own 10.92% of the company's stock.
About Crescent Energy
(Get Rating)
Crescent Energy Company, an energy company, explores for, 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, Mid-Con, and other basins in the United States.
See Also
- Get a free copy of the StockNews.com research report on Crescent Energy (CRGY)
- MarketBeat Week in Review – 1/23- 1/27
- Why Lucid Spiked Nearly 100% In One Day
- Ride These Railroad Stocks for Growth and Income
- ASML Sees Demand For Chips Rallying This Year, Boosts Sales View
- KLA Corporation: Strength In A Troubled Semi-Market
Receive News & Ratings for Crescent Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crescent Energy and related companies with MarketBeat.com's FREE daily email newsletter.
