Crescent Energy (NYSE:CRGY) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of Crescent Energy (NYSE:CRGY) in a report issued on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $14.00 price target on the stock.

CRGY has been the subject of several other reports. Wells Fargo & Company decreased their price objective on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Mizuho reduced their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Raymond James reissued a “strong-buy” rating and set a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy has an average rating of “Moderate Buy” and a consensus target price of $16.09.

Crescent Energy Trading Up 0.6%

CRGY opened at $9.08 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50 day moving average price is $8.49 and its 200-day moving average price is $12.04. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 14.65 and a beta of 1.75.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. On average, equities analysts forecast that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.29%. Crescent Energy’s payout ratio is -106.67%.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski bought 20,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the transaction, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crescent Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in shares of Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares during the period. Hsbc Holdings PLC increased its stake in shares of Crescent Energy by 4.3% in the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock worth $276,000 after acquiring an additional 785 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Crescent Energy by 4.0% during the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company’s stock worth $487,000 after purchasing an additional 1,282 shares during the last quarter. Yousif Capital Management LLC lifted its position in Crescent Energy by 2.1% during the first quarter. Yousif Capital Management LLC now owns 66,806 shares of the company’s stock valued at $751,000 after purchasing an additional 1,382 shares during the period. Finally, AQR Capital Management LLC lifted its position in Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares during the period. 52.11% of the stock is currently 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.