Crescent Energy (NYSE:CRGY) Price Target Lowered to $20.00 at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its target price trimmed by Wells Fargo & Company from $21.00 to $20.00 in a research report sent to investors on Monday, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on CRGY. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Truist Financial lifted their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Crescent Energy Stock Down 0.6 %

Crescent Energy stock opened at $11.50 on Monday. The business’s 50-day simple moving average is $13.65 and its two-hundred day simple moving average is $13.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $2.97 billion, a PE ratio of 18.54 and a beta of 2.18. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy’s payout ratio is currently -69.57%.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $10.38 per share, with a total value of $41,520.00. Following the purchase, the director now owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This represents a 1.74 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Insiders acquired a total of 24,932 shares of company stock valued at $263,219 in the last three months. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CRGY. Quest Partners LLC acquired a new position in Crescent Energy in the 3rd quarter valued at $189,000. Intech Investment Management LLC purchased a new stake in shares of Crescent Energy during the third quarter worth $350,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Crescent Energy in the third quarter valued at about $155,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Crescent Energy by 59.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock worth $17,370,000 after buying an additional 589,665 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Crescent Energy by 335.1% in the third quarter. Citigroup Inc. now owns 343,940 shares of the company’s stock worth $3,766,000 after buying an additional 264,883 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.