Crescent Energy (NYSE:CRGY) Trading Down 5.8%

Crescent Energy (NYSE:CRGY) fell 5.8% during trading on Monday . The company traded as low as $11.35 and last traded at $11.40. 900,341 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,869,213 shares. The stock had previously closed at $12.10.

Analysts Set New Price Targets

A number of research firms recently commented on CRGY. Mizuho upped their price objective on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Wells Fargo & Company upped their price objective on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Wolfe Research started coverage on Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. Truist Financial lowered their price target on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Tudor, Pickering, Holt & Co. started coverage on Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.40.

Crescent Energy Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -57.45 and a beta of 2.32. The firm has a 50-day moving average price of $12.16 and a two-hundred day moving average price of $11.58.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.28. The company had revenue of $657.47 million during the quarter, compared to analysts’ expectations of $579.44 million. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. As a group, sell-side analysts anticipate that Crescent Energy will post 1.53 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

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 dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.48 annualized dividend and a dividend yield of 4.08%. Crescent Energy’s dividend payout ratio is currently -239.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its position in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after buying an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Crescent Energy during the second quarter valued at approximately $32,000. Spirit of America Management Corp NY acquired a new position in Crescent Energy during the second quarter valued at approximately $36,000. GAMMA Investing LLC boosted 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. Finally, Amalgamated Bank boosted 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. 52.11% of the stock is 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.