Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Mizuho Analyst Says

Crescent Energy (NYSE:CRGY) had its price objective upped by equities research analysts at Mizuho from $14.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential upside of 14.57% from the company’s current price.

A number of other equities research analysts also recently weighed in on CRGY. Stephens raised their price target on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective on the stock. Evercore ISI reissued an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Raymond James raised their price objective on Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Truist Financial raised their price objective on Crescent Energy from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Buy” and a consensus price target of $16.80.

Crescent Energy Trading Down 1.7 %

Crescent Energy stock opened at $13.97 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The company’s fifty day simple moving average is $13.67 and its 200-day simple moving average is $12.36. The stock has a market cap of $3.19 billion, a P/E ratio of 22.52 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same period last year, the business earned $0.35 EPS. As a group, sell-side analysts forecast that Crescent Energy will post 0.98 EPS for the current fiscal year.

Institutional Trading of Crescent Energy

Several institutional investors have recently modified their holdings of the company. CWM LLC boosted its stake in Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Crescent Energy in the second quarter worth $32,000. Farther Finance Advisors LLC boosted its stake in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares in the last quarter. Spirit of America Management Corp NY acquired a new position in Crescent Energy in the second quarter worth $36,000. Finally, Amalgamated Bank boosted its stake in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.