Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Mizuho Analyst Says

Crescent Energy (NYSE:CRGY) had its target price boosted by equities researchers at Mizuho from $16.00 to $17.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target would suggest a potential upside of 3.09% from the stock’s previous close.

CRGY has been the subject of several other research reports. Wells Fargo & Company cut their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Raymond James upped their price target 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. Pickering Energy Partners started coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. began coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.20.

Crescent Energy Stock Performance

Shares of NYSE:CRGY traded up $0.08 on Tuesday, reaching $16.49. 873,180 shares of the company’s stock were exchanged, compared to its average volume of 2,472,307. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.59. The company has a fifty day moving average of $14.44 and a 200-day moving average of $12.70. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 26.60 and a beta of 2.17. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, research analysts predict that Crescent Energy will post 0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares during the period. Amalgamated Bank lifted its stake in shares of Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. GAMMA Investing LLC boosted its position in shares of Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares in the last quarter. Zacks Investment Management acquired a new stake in Crescent Energy during the third quarter worth approximately $121,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Crescent Energy in the third quarter worth approximately $155,000. Institutional investors own 52.11% of the company’s stock.

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.