Crescent Energy (NYSE:CRGY – Get Rating) dropped 7.7% during trading on Friday . The stock traded as low as $13.96 and last traded at $13.96. Approximately 10,931 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 336,099 shares. The stock had previously closed at $15.12.
Separately, Truist Financial assumed coverage on Crescent Energy in a research note on Friday, April 8th. They set a “buy” rating and a $25.00 price objective for the company.
The company has a debt-to-equity ratio of 3.77, a current ratio of 0.53 and a quick ratio of 0.53. The company has a 50 day simple moving average of $17.19. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 93.76 and a beta of 2.51.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, May 23rd. This is a positive change from Crescent Energy’s previous quarterly dividend of $0.12. This represents a $0.68 annualized dividend and a yield of 4.79%.
A number of hedge funds have recently bought and sold shares of the business. Cutler Group LP bought a new position in Crescent Energy during the first quarter worth about $30,000. Charles Schwab Investment Management Inc. lifted its holdings in Crescent Energy by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 75,982 shares of the company’s stock worth $1,318,000 after acquiring an additional 1,945 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Crescent Energy during the first quarter worth about $35,000. DAVENPORT & Co LLC lifted its holdings in Crescent Energy by 3.7% during the first quarter. DAVENPORT & Co LLC now owns 61,000 shares of the company’s stock worth $1,058,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in Crescent Energy during the first quarter worth about $43,000. Hedge funds and other institutional investors own 25.92% of the company’s stock.
Crescent Energy Company Profile (NYSE:CRGY)
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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