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

Crescent Energy (NYSE:CRGY) had its price objective lifted by stock analysts at Mizuho from $13.00 to $14.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential upside of 4.83% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating for the company. Truist Financial reduced their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Evercore ISI restated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Stephens lifted their price target on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. initiated coverage on Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $15.80.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $13.36 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The company has a 50-day simple moving average of $11.89 and a 200 day simple moving average of $11.79. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 21.54 and a beta of 2.19.

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 14.01%. The company had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same period in the previous year, the company earned $0.35 EPS. On average, sell-side analysts predict that Crescent Energy will post 1.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy in the second quarter worth $32,000. Farther Finance Advisors LLC increased its holdings 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 buying an additional 3,135 shares during the period. Spirit of America Management Corp NY purchased a new position in Crescent Energy in the second quarter valued at $36,000. Finally, Amalgamated Bank grew its holdings in Crescent Energy by 86.4% in the third 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. 52.11% of the stock is owned by hedge funds and other 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.