Crescent Energy (NYSE:CRGY) Price Target Raised to $23.00 at Raymond James

Crescent Energy (NYSE:CRGYGet Free Report) had its target price upped by analysts at Raymond James from $22.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 43.90% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Pickering Energy Partners started coverage on Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating on the stock. Mizuho raised their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Stephens raised their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Truist Financial raised their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.50.

Read Our Latest Stock Report on CRGY

Crescent Energy Stock Down 2.2 %

CRGY stock opened at $15.98 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $14.94 and its 200 day moving average is $12.96. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 25.78 and a beta of 2.17. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94.

Crescent Energy (NYSE:CRGYGet Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same period last year, the firm posted $0.35 earnings per share. Sell-side analysts predict that Crescent Energy will post 0.84 EPS for the current fiscal year.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of CRGY. Pacer Advisors Inc. purchased a new stake in Crescent Energy in the fourth quarter worth about $170,905,000. Jennison Associates LLC lifted its holdings in Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock worth $69,914,000 after buying an additional 3,354,362 shares during the period. State Street Corp lifted its holdings in Crescent Energy by 78.6% in the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after buying an additional 2,986,468 shares during the period. Marshall Wace LLP lifted its holdings in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after buying an additional 2,098,303 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Crescent Energy during the third quarter valued at approximately $21,872,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

(Get Free Report)

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.

See Also

Analyst Recommendations for Crescent Energy (NYSE:CRGY)

Receive News & Ratings for Crescent Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crescent Energy and related companies with MarketBeat.com's FREE daily email newsletter.