Truist Financial Trims Crescent Energy (NYSE:CRGY) Target Price to $19.00

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

Several other analysts also recently commented on CRGY. KeyCorp started coverage on shares of Crescent Energy in a report on Thursday, June 27th. They issued an overweight rating and a $16.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Mizuho raised their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a neutral rating in a report on Monday, May 13th. Wolfe Research started 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. Finally, Tudor, Pickering, Holt & Co. initiated 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. 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 has a consensus rating of Buy and an average target price of $16.40.

Crescent Energy Stock Up 2.0 %

Crescent Energy stock opened at $12.35 on Monday. Crescent Energy has a 1-year low of $10.11 and a 1-year high of $14.22. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -61.75 and a beta of 2.32. The firm’s fifty day moving average price is $12.16 and its two-hundred day moving average price is $11.59. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. The firm had revenue of $657.47 million for the quarter, compared to analyst estimates of $579.44 million. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. On average, equities research analysts predict that Crescent Energy will post 1.64 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were given a $0.12 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.89%. Crescent Energy’s dividend payout ratio (DPR) is currently -239.99%.

Hedge Funds Weigh In On Crescent Energy

Large investors have recently modified their holdings of the company. CWM LLC boosted its position in shares of Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares during the period. Spirit of America Management Corp NY bought a new stake in Crescent Energy during the second quarter valued at approximately $36,000. GAMMA Investing LLC lifted its position in Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after purchasing an additional 2,934 shares during the last quarter. Amalgamated Bank lifted its position in Crescent Energy by 58.5% during the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after purchasing an additional 2,748 shares during the last quarter. Finally, Equitec Proprietary Markets LLC bought a new stake in Crescent Energy during the second quarter valued at approximately $107,000. 52.11% of the stock is currently owned by institutional investors.

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.