Crescent Energy (NYSE:CRGY) Price Target Lowered to $10.00 at Mizuho

Crescent Energy (NYSE:CRGY) had its target price decreased by Mizuho from $12.00 to $10.00 in a research note published on Monday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

CRGY has been the subject of a number of other reports. Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Raymond James Financial set a $17.00 target price on shares of Crescent Energy and gave the company a “strong-buy” rating in a report on Wednesday, August 27th. William Blair initiated coverage on shares of Crescent Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Wall Street Zen raised shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company dropped their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Crescent Energy currently has an average rating of “Moderate Buy” and an average target price of $15.80.

Crescent Energy Trading Down 2.8%

Shares of Crescent Energy stock opened at $8.43 on Monday. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.15 billion, a PE ratio of -46.82 and a beta of 1.98. The company has a 50-day moving average of $9.11 and a two-hundred day moving average of $9.23.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The company had revenue of $897.98 million during the quarter, compared to analysts’ expectations of $868.34 million. On average, research analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, August 18th. Crescent Energy’s dividend payout ratio (DPR) is -266.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRGY. American Century Companies Inc. increased its stake in shares of Crescent Energy by 28.4% during the 2nd quarter. American Century Companies Inc. now owns 17,928,597 shares of the company’s stock worth $154,186,000 after purchasing an additional 3,960,998 shares in the last quarter. Nuveen LLC acquired a new stake in Crescent Energy during the first quarter worth approximately $21,782,000. Alyeska Investment Group L.P. boosted its position in Crescent Energy by 452.3% during the first quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock worth $17,817,000 after acquiring an additional 1,298,155 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in Crescent Energy during the first quarter worth approximately $10,087,000. 52.11% of the stock is 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.