Crescent Energy’s (CRGY) “Overweight” Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of Crescent Energy (NYSE:CRGY) in a report issued on Monday morning,Benzinga reports. They currently have a $17.00 price objective on the stock.

Other analysts have also issued reports about the stock. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating on the stock. Truist Financial boosted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Raymond James boosted their price target on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Crescent Energy currently has a consensus rating of “Buy” and a consensus price target of $17.60.

Crescent Energy Stock Down 1.7 %

Shares of CRGY opened at $11.10 on Monday. The firm has a market cap of $2.53 billion, a P/E ratio of 17.90 and a beta of 2.16. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94. The company’s 50-day moving average price is $14.91 and its 200 day moving average price is $13.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in shares of Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after acquiring an additional 705 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after acquiring an additional 2,377 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after acquiring an additional 3,155 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

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.