Crescent Energy (NYSE:CRGY) Earns Overweight Rating from Stephens

Stephens reiterated their overweight rating on shares of Crescent Energy (NYSE:CRGY) in a report issued on Tuesday, Benzinga reports. The firm currently has a $20.00 price objective on the stock.

Several other equities analysts also recently weighed in on CRGY. Wolfe Research initiated coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $16.00 price target on the stock. Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They issued a buy rating and a $18.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. KeyCorp assumed coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an overweight rating and a $16.00 price target for the company. Finally, Mizuho boosted their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a neutral rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of Buy and an average target price of $16.70.

Crescent Energy Stock Performance

Shares of NYSE:CRGY traded down $0.05 during midday trading on Tuesday, reaching $10.47. The company’s stock had a trading volume of 2,150,690 shares, compared to its average volume of 2,045,612. The stock has a fifty day moving average of $11.89 and a 200 day moving average of $11.56. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $14.22. The firm has a market capitalization of $1.86 billion, a PE ratio of -52.35 and a beta of 2.32. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be given a $0.12 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 4.58%. Crescent Energy’s dividend payout ratio is presently -240.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. CWM LLC increased its position in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy during the 2nd quarter valued at approximately $32,000. Spirit of America Management Corp NY acquired a new position in Crescent Energy in the second quarter worth $36,000. GAMMA Investing LLC boosted its holdings in Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after purchasing an additional 2,934 shares during the period. Finally, Amalgamated Bank boosted its holdings in Crescent Energy by 58.5% in the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after purchasing an additional 2,748 shares during the period. 52.11% of the stock is currently owned by hedge funds and other 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.