Crescent Energy (NYSE:CRGY) Price Target Raised to $14.00 at Mizuho

Crescent Energy (NYSE:CRGY) had its price target upped by Mizuho from $13.00 to $14.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on CRGY. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. Stephens boosted their target price on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Pickering Energy Partners initiated coverage on Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating for the company. Wells Fargo & Company decreased their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Truist Financial decreased their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two equities research 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 data from MarketBeat, Crescent Energy currently has an average rating of “Buy” and an average target price of $15.80.

Crescent Energy Trading Up 3.4 %

NYSE CRGY opened at $12.96 on Tuesday. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85. The company has a 50-day moving average of $11.86 and a 200-day moving average of $11.78. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $2.30 billion, a P/E ratio of 647.50 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The business had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. As a group, equities analysts predict that Crescent Energy will post 1.11 earnings per share for the current year.

Insider Activity

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of Crescent Energy stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the purchase, the director now owns 201,081 shares in the company, valued at $2,135,480.22. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders acquired 12,294 shares of company stock worth $131,297. 13.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of Crescent Energy by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company’s stock valued at $7,755,000 after acquiring an additional 46,448 shares in the last quarter. Callahan Advisors LLC acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at approximately $602,000. Amalgamated Bank raised its position in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Crescent Energy by 135.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,934 shares of the company’s stock valued at $404,000 after acquiring an additional 21,221 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

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.