Crescent Energy (NYSE:CRGY) Price Target Raised to $23.00

Crescent Energy (NYSE:CRGY) had its target price raised by Raymond James from $22.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective indicates a potential upside of 41.24% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Truist Financial increased their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Stephens upped their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Mizuho increased their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Pickering Energy Partners began coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Two investment 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 data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $17.50.

Crescent Energy Trading Up 0.8 %

NYSE CRGY traded up $0.12 on Thursday, reaching $16.28. The stock had a trading volume of 492,894 shares, compared to its average volume of 2,411,865. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 26.26 and a beta of 2.17. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94. The stock has a fifty day moving average price of $14.85 and a two-hundred day moving average price of $12.91.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that Crescent Energy will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of CRGY. Farther Finance Advisors LLC grew its position in Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares during the period. GAMMA Investing LLC increased its stake in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares during the period. Zacks Investment Management acquired a new position in Crescent Energy in the 3rd quarter valued at approximately $121,000. Finally, Toth Financial Advisory Corp acquired a new position in Crescent Energy in the 4th quarter valued at approximately $131,000. Institutional investors 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.