Crescent Energy (NYSE:CRGY) Given New $21.00 Price Target at Truist Financial

Crescent Energy (NYSE:CRGY) had its price objective boosted by Truist Financial from $18.00 to $21.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on CRGY. Evercore ISI reiterated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target for the company. Raymond James increased their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Stephens upped their target price on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $17.10.

Crescent Energy Stock Up 3.5 %

CRGY opened at $16.42 on Monday. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.56. The company’s 50-day moving average is $14.44 and its 200 day moving average is $12.70. 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 firm has a market capitalization of $3.75 billion, a P/E ratio of 26.48 and a beta of 2.17.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. The firm had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter last year, the business earned $0.35 earnings per share. Research analysts expect that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 2.92%. Crescent Energy’s payout ratio is currently 77.42%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its stake in Crescent Energy by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock worth $553,000 after purchasing an additional 897 shares during the period. GAMMA Investing LLC boosted its position in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares during the last quarter. Amalgamated Bank grew its position in shares of Crescent Energy by 86.4% during the 3rd 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. Mackenzie Financial Corp increased its stake in shares of Crescent Energy by 23.5% in the second quarter. Mackenzie Financial Corp now owns 14,669 shares of the company’s stock worth $174,000 after purchasing an additional 2,796 shares in the last quarter. Finally, Farther Finance Advisors LLC raised 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 last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

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.