Crescent Energy (NYSE:CRGY) Given New $17.00 Price Target at Mizuho

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

A number of other equities analysts have also recently issued reports on the company. Pickering Energy Partners began coverage on Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Raymond James raised their price objective on 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, Stephens lifted 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.20.

Crescent Energy Trading Up 0.5 %

Shares of 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. The business has a 50 day moving average price of $14.44 and a two-hundred day moving average price of $12.70. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.59. The stock has a market capitalization of $3.76 billion, a P/E 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 earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $793.88 million. During the same quarter in the previous year, the company posted $0.35 EPS. Research analysts anticipate that Crescent Energy will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CRGY. Harbor Capital Advisors Inc. lifted its holdings in Crescent Energy by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock valued at $553,000 after purchasing an additional 897 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Crescent Energy during the 4th quarter worth about $312,000. GAMMA Investing LLC boosted its holdings 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 worth $73,000 after buying an additional 1,621 shares during the period. Sunbelt Securities Inc. raised its holdings in Crescent Energy by 14.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock valued at $362,000 after acquiring an additional 4,102 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Crescent Energy during the third quarter worth approximately $430,000. 52.11% of the stock is owned by institutional investors.

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.