Crescent Energy (NYSE:CRGY) Price Target Raised to $21.00

by · The Cerbat Gem

Crescent Energy (NYSE:CRGY – Get Free Report) had its price target increased by Truist Financial from $18.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 29.71% from the stock’s previous close.

Several other analysts have also issued reports on CRGY. Evercore ISI reissued an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Raymond James boosted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. 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. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $17.10.

Read Our Latest Research Report on Crescent Energy

Crescent Energy Stock Performance

Shares of CRGY stock opened at $16.19 on Monday. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.24. The company’s fifty day simple moving average is $14.36 and its 200-day simple moving average is $12.67. The firm has a market cap of $3.70 billion, a PE ratio of 26.11 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 (NYSE:CRGY – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.11. The firm had revenue of $744.87 million for 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 period in the prior year, the firm posted $0.35 earnings per share. Equities research analysts expect that Crescent Energy will post 0.98 EPS for the current fiscal year.

Institutional Trading of Crescent Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in shares of Crescent Energy in the second quarter valued at $125,000. Rhumbline Advisers increased its holdings in Crescent Energy by 20.8% in the 2nd quarter. Rhumbline Advisers now owns 131,965 shares of the company’s stock worth $1,564,000 after acquiring an additional 22,702 shares during the last quarter. Arizona State Retirement System raised its stake in Crescent Energy by 21.2% in the 2nd quarter. Arizona State Retirement System now owns 26,557 shares of the company’s stock valued at $315,000 after acquiring an additional 4,640 shares during the period. Acadian Asset Management LLC bought a new stake in Crescent Energy in the 2nd quarter valued at about $298,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after purchasing an additional 1,226,027 shares during the last quarter. 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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