Mizuho Raises Crescent Energy (NYSE:CRGY) Price Target to $14.00

Crescent Energy (NYSE:CRGY) had its target price lifted by Mizuho from $13.00 to $14.00 in a report released on Tuesday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on CRGY. Stephens lifted their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Truist Financial dropped their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report 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 report on Tuesday, September 24th. Finally, Wells Fargo & Company dropped their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $15.80.

Crescent Energy Trading Up 3.4 %

Shares of NYSE:CRGY opened at $12.96 on Tuesday. The company has a market cap of $2.30 billion, a PE ratio of 647.50 and a beta of 2.19. The company’s 50-day moving average price is $11.86 and its 200 day moving average price is $11.78. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $13.85. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $653.28 million for the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Sell-side analysts anticipate that Crescent Energy will post 1.11 earnings per share for the current year.

Insider Transactions at Crescent Energy

In other Crescent Energy news, Director Michael Duginski acquired 9,344 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $10.62 per share, with a total value of $99,233.28. Following the purchase, the director now directly owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 12,294 shares of company stock valued at $131,297 in the last quarter. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds have recently made changes to their positions in CRGY. CWM LLC grew its stake in shares of Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy in the second quarter worth approximately $32,000. Farther Finance Advisors LLC increased its position in shares of Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in shares of Crescent Energy in the second quarter worth approximately $36,000. Finally, Amalgamated Bank increased its position in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares in the last quarter. Institutional investors and hedge funds 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.