Crescent Energy (NYSE:CRGY) Price Target Raised to $17.00

Crescent Energy (NYSE:CRGYFree Report) had its price objective lifted by Mizuho from $16.00 to $17.00 in a report published on Tuesday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

CRGY has been the topic of several other reports. Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Raymond James boosted their target price 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. Pickering Energy Partners started coverage on Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating for the company. Evercore ISI reiterated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Truist Financial upped their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $17.20.

Read Our Latest Analysis on Crescent Energy

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $16.74 on Tuesday. The company has a market cap of $3.82 billion, a PE ratio of 27.01 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 52 week low of $9.88 and a 52 week high of $16.94. The business has a 50 day moving average price of $14.58 and a 200-day moving average price of $12.76.

Crescent Energy (NYSE:CRGYGet Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same period in the prior year, the firm posted $0.35 EPS. Equities analysts anticipate that Crescent Energy will post 0.9 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 2.87%. Crescent Energy’s payout ratio is presently 77.42%.

Institutional Investors Weigh In On Crescent Energy

Large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock valued at $74,285,000 after purchasing an additional 2,986,468 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after buying an additional 2,098,303 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Crescent Energy during the 3rd quarter valued at approximately $21,872,000. Riposte Capital LLC bought a new position in Crescent Energy in the 3rd quarter worth approximately $18,232,000. Finally, Kore Advisors LP purchased a new position in Crescent Energy in the 3rd quarter valued at approximately $14,652,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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