Raymond James Forecasts Strong Price Appreciation for Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY) had its price target raised by stock analysts at Raymond James from $22.00 to $23.00 in a report released on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 43.90% from the stock’s current price.

A number of other equities analysts also recently weighed in on CRGY. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. Stephens boosted their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Truist Financial boosted 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. Finally, Wells Fargo & Company lowered their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.50.

Crescent Energy Price Performance

CRGY opened at $15.98 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 25.78 and a beta of 2.17. The firm’s fifty day moving average price is $14.94 and its two-hundred day moving average price is $12.96. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data 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 firm had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the previous year, the firm earned $0.35 EPS. As a group, analysts anticipate that Crescent Energy will post 0.84 earnings per share 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 increased its position in shares of Crescent Energy by 15,675.0% during 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 increased its position 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 buying an additional 2,272 shares during the period. GAMMA Investing LLC increased its position in shares of Crescent Energy by 48.3% during the fourth 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 bought a new position in shares of Crescent Energy in the third quarter worth approximately $121,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Crescent Energy in the fourth quarter worth approximately $131,000. 52.11% of the stock is currently 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.