Crescent Energy (NYSE:CRGY – Get Free Report) insider Bo Shi bought 950 shares of the stock in a transaction on Thursday, September 5th. The stock was purchased at an average cost of $11.13 per share, with a total value of $10,573.50. Following the completion of the purchase, the insider now directly owns 45,811 shares in the company, valued at approximately $509,876.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Crescent Energy Stock Down 3.1 %
NYSE CRGY traded down $0.34 during trading hours on Monday, hitting $10.38. The company had a trading volume of 2,759,037 shares, compared to its average volume of 2,056,382. The firm’s 50 day moving average is $11.61 and its 200 day moving average is $11.61. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -52.40 and a beta of 2.26. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $13.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87.
Crescent Energy (NYSE:CRGY – Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million for the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. Sell-side analysts anticipate that Crescent Energy will post 1.43 earnings per share for the current fiscal year.
Crescent Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.63%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is -239.99%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Stephens reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective for the company. Wolfe Research began coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Truist Financial cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and a consensus target price of $16.80.
Institutional Trading of Crescent Energy
Several large investors have recently modified their holdings of CRGY. CWM LLC lifted its stake in shares of Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring 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 purchased a new position in shares of Crescent Energy during the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC grew its position in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after buying an additional 2,934 shares in the last quarter. Finally, Amalgamated Bank increased 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 buying an additional 2,748 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.
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.