Crescent Energy (NYSE:CRGY - Get Free Report) had its price target increased by stock analysts at Mizuho from $16.00 to $17.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's target price indicates a potential upside of 2.60% from the stock's previous close.
A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a research report on Wednesday, September 18th. They issued a "neutral" rating and a $12.00 price target for the company. Evercore ISI reaffirmed an "outperform" rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. 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. Raymond James raised their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Truist Financial upped 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. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $17.20.
Read Our Latest Analysis on CRGY
Crescent Energy Price Performance
Shares of Crescent Energy stock traded up $0.16 during trading hours on Tuesday, reaching $16.57. The company's stock had a trading volume of 3,146,564 shares, compared to its average volume of 2,765,657. The firm has a 50 day moving average price of $14.44 and a 200-day moving average price of $12.70. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $3.78 billion, a P/E ratio of 26.73 and a beta of 2.17. Crescent Energy has a one year low of $9.88 and a one year high of $16.67.
Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million for the quarter, compared to analysts' expectations of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, analysts predict that Crescent Energy will post 0.98 EPS for the current year.
Hedge Funds Weigh In On Crescent Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in CRGY. Rhumbline Advisers lifted its stake in Crescent Energy by 20.8% in the second quarter. Rhumbline Advisers now owns 131,965 shares of the company's stock worth $1,564,000 after acquiring an additional 22,702 shares during the period. Arizona State Retirement System lifted its position in shares of Crescent Energy by 21.2% in the 2nd quarter. Arizona State Retirement System now owns 26,557 shares of the company's stock worth $315,000 after purchasing an additional 4,640 shares during the period. Acadian Asset Management LLC bought a new position in shares of Crescent Energy during the second quarter valued at approximately $298,000. Dimensional Fund Advisors LP increased its holdings in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company's stock valued at $31,477,000 after buying an additional 1,226,027 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Crescent Energy by 225.9% in the second quarter. Renaissance Technologies LLC now owns 346,800 shares of the company's stock worth $4,110,000 after buying an additional 240,400 shares in the last quarter. Institutional investors own 52.11% of the company's stock.
Crescent Energy Company Profile
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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.
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