Mizuho Forecasts Strong Price Appreciation for Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY - Get Free Report) had its price target lifted by 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 target suggests a potential upside of 12.56% from the company's current price.

CRGY has been the subject of a number of other research reports. Stephens raised their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Truist Financial lifted their price target on shares of Crescent Energy from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a "neutral" rating and a $12.00 price target 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 report on Thursday, November 21st. Finally, Evercore ISI reissued an "outperform" rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $16.80.

Crescent Energy Stock Performance

CRGY stock traded down $0.38 on Monday, reaching $14.22. 2,218,078 shares of the company were exchanged, compared to its average volume of 2,471,375. The firm has a market capitalization of $3.25 billion, a PE ratio of 22.97 and a beta of 2.17. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The stock's fifty day moving average price is $13.63 and its 200 day moving average price is $12.34. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (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 company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, research analysts anticipate that Crescent Energy will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of Crescent Energy by 444.8% in the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company's stock valued at $92,145,000 after acquiring an additional 6,348,598 shares during the last quarter. State Street Corp lifted its stake in Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after acquiring an additional 2,986,468 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company's stock worth $40,501,000 after acquiring an additional 33,626 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Crescent Energy by 53.2% in the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock worth $36,741,000 after purchasing an additional 1,164,306 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Crescent Energy by 48.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company's stock valued at $33,643,000 after buying an additional 1,001,552 shares during 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.