Crescent Energy (NYSE:CRGY) Given New $17.00 Price Target at Mizuho

Crescent Energy (NYSE:CRGY) had its price objective raised by Mizuho from $16.00 to $17.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also commented on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, September 24th. Truist Financial boosted their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday. Pickering Energy Partners started coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Buy” and an average target price of $17.20.

Crescent Energy Price Performance

Crescent Energy stock opened at $16.57 on Tuesday. The stock’s 50 day moving average price is $14.44 and its two-hundred day moving average price is $12.70. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 26.73 and a beta of 2.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.67.

Crescent Energy (NYSE:CRGY) last posted its quarterly 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 business had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same period last year, the company posted $0.35 earnings per share. On average, equities analysts predict that Crescent Energy will post 0.98 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s payout ratio is currently 77.42%.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Crescent Energy by 15,675.0% during 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 in the last quarter. 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 acquiring an additional 2,272 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after acquiring an additional 1,621 shares during the period. Zacks Investment Management bought a new stake in Crescent Energy during the third quarter worth $121,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Crescent Energy in the third quarter worth $155,000. 52.11% of the stock is owned by institutional investors.

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.