Crescent Energy (NYSE:CRGY) Receives $17.50 Consensus PT from Analysts

Shares of Crescent Energy (NYSE:CRGY - Get Free Report) have received a consensus recommendation of "Buy" from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $17.50.

A number of brokerages have commented on CRGY. Pickering Energy Partners began coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an "outperform" rating on the stock. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Mizuho boosted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Raymond James upped their price objective on Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 23rd. Finally, Truist Financial lifted their target price on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP bought a new position in shares of Crescent Energy during the fourth quarter worth $10,379,000. Monashee Investment Management LLC raised its stake in Crescent Energy by 23.1% during the 4th quarter. Monashee Investment Management LLC now owns 160,000 shares of the company's stock worth $2,338,000 after buying an additional 30,000 shares during the period. Comerica Bank lifted its holdings in Crescent Energy by 2,401.9% during the fourth quarter. Comerica Bank now owns 63,072 shares of the company's stock worth $921,000 after acquiring an additional 60,551 shares in the last quarter. Voleon Capital Management LP acquired a new position in Crescent Energy in the fourth quarter valued at about $1,765,000. Finally, Paloma Partners Management Co acquired a new position in Crescent Energy in the fourth quarter valued at about $146,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

Crescent Energy stock traded up $0.37 on Wednesday, reaching $14.89. The company's stock had a trading volume of 2,025,239 shares, compared to its average volume of 2,183,427. The business's fifty day moving average price is $15.06 and its 200 day moving average price is $13.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 24.01 and a beta of 2.16. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94.

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.