Crescent Energy (NYSE:CRGY) Shares Gap Down to $14.23

Shares of Crescent Energy (NYSE:CRGYGet Rating) gapped down before the market opened on Friday . The stock had previously closed at $14.23, but opened at $13.57. Crescent Energy shares last traded at $13.67, with a volume of 421 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRGY. Bank of America began coverage on Crescent Energy in a research note on Tuesday, November 15th. They set a “neutral” rating and a $15.00 price target for the company. Truist Financial cut their price target on Crescent Energy to $20.00 in a research note on Wednesday. Wells Fargo & Company assumed coverage on Crescent Energy in a research note on Wednesday, September 28th. They set an “overweight” rating and a $18.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Crescent Energy in a research note on Wednesday, October 19th. They issued a “hold” rating and a $15.00 target price for the company.

Crescent Energy Trading Down 1.2 %

The firm has a 50 day simple moving average of $14.49 and a 200 day simple moving average of $15.07. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $2.38 billion, a P/E ratio of 83.71 and a beta of 2.42.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Wednesday, November 23rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.68 annualized dividend and a yield of 4.84%.

Insiders Place Their Bets

In related news, CEO David C. Rockecharlie bought 2,000 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was acquired at an average price of $13.84 per share, for a total transaction of $27,680.00. Following the purchase, the chief executive officer now directly owns 35,000 shares in the company, valued at $484,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Crescent Energy news, CFO Brandi Kendall purchased 2,500 shares of the stock in a transaction on Monday, November 14th. The shares were purchased at an average price of $14.09 per share, with a total value of $35,225.00. Following the acquisition, the chief financial officer now directly owns 8,500 shares in the company, valued at approximately $119,765. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David C. Rockecharlie purchased 2,000 shares of the stock in a transaction on Wednesday, November 16th. The stock was acquired at an average cost of $13.84 per share, for a total transaction of $27,680.00. Following the acquisition, the chief executive officer now owns 35,000 shares in the company, valued at $484,400. The disclosure for this purchase can be found here. Insiders purchased a total of 7,850 shares of company stock worth $109,465 in the last quarter. 27.00% of the stock is owned by company insiders.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC purchased a new stake in shares of Crescent Energy in the 1st quarter valued at about $125,000. Mraz Amerine & Associates Inc. raised its holdings in shares of Crescent Energy by 18.0% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 89,425 shares of the company’s stock valued at $1,116,000 after buying an additional 13,672 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Crescent Energy by 7.6% during the 1st quarter. King Luther Capital Management Corp now owns 1,707,532 shares of the company’s stock valued at $29,609,000 after buying an additional 120,932 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Crescent Energy during the 2nd quarter valued at about $884,000. Finally, HighTower Trust Services LTA purchased a new position in shares of Crescent Energy during the 2nd quarter valued at about $16,166,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

Crescent Energy Company Profile

(Get Rating)

Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.

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