Crescent Energy (NYSE:CRGY) Shares Up 5.8%

Crescent Energy (NYSE:CRGY) shot up 5.8% during mid-day trading on Tuesday . The stock traded as high as $11.47 and last traded at $11.40. 365,580 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,316,234 shares. The stock had previously closed at $10.78.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Tudor, Pickering, Holt & Co. began coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 target price for the company. Mizuho restated a “neutral” rating and set a $13.00 price objective (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Wells Fargo & Company raised their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a report on Wednesday, February 14th. Finally, Truist Financial cut their price objective on shares of Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $16.38.

Crescent Energy Price Performance

The company has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $11.48. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 9.19 and a beta of 2.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.37. The company had revenue of $657.73 million during the quarter, compared to analysts’ expectations of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. Research analysts expect that Crescent Energy will post 1.28 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Thursday, March 14th. Crescent Energy’s payout ratio is currently 37.21%.

Insiders Place Their Bets

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CRGY. GAMMA Investing LLC grew its stake in shares of 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 last quarter. Amalgamated Bank grew its stake in shares of 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 last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Crescent Energy in the fourth quarter worth $136,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Crescent Energy in the fourth quarter worth $139,000. Finally, SG Americas Securities LLC bought a new stake in shares of Crescent Energy in the third quarter worth $140,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, 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 regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.