Crescent Energy (NYSE:CRGY) Hits New 52-Week Low at $9.90

Shares of Crescent Energy (NYSE:CRGY) reached a new 52-week low on Monday . The company traded as low as $9.90 and last traded at $10.08, with a volume of 56987 shares traded. The stock had previously closed at $10.81.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $18.00 target price on the stock. Wolfe Research started coverage on Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target for the company. Mizuho upped their price target 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 target on Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, KeyCorp started coverage on Crescent Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.70.

Crescent Energy Price Performance

The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -50.95 and a beta of 2.32. The company has a fifty day moving average price of $12.01 and a two-hundred day moving average price of $11.58. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

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, beating the consensus estimate of $0.18 by $0.28. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. The business had revenue of $657.47 million during the quarter, compared to the consensus estimate of $579.44 million. On average, equities research analysts expect that Crescent Energy will post 1.53 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is presently -240.00%.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in shares of Crescent Energy during the second quarter worth approximately $298,000. Arizona State Retirement System raised its position in Crescent Energy by 21.2% in the second quarter. Arizona State Retirement System now owns 26,557 shares of the company’s stock worth $315,000 after acquiring an additional 4,640 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Crescent Energy in the second quarter worth $1,778,000. Jackson Creek Investment Advisors LLC raised its position in Crescent Energy by 1.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after acquiring an additional 883 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Crescent Energy by 20.8% in the second quarter. Rhumbline Advisers now owns 131,965 shares of the company’s stock worth $1,564,000 after acquiring an additional 22,702 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.