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

Crescent Energy (NYSE:CRGY) had its price target hoisted by Truist Financial from $18.00 to $21.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 29.71% from the stock’s previous close.

A number of other research firms also recently commented on CRGY. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Evercore ISI reiterated an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Mizuho boosted their target price on Crescent Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. began coverage on Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Stephens lifted their price target 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 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 stock. According to data from MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and a consensus price target of $17.10.

Crescent Energy Trading Up 2.1 %

Shares of NYSE:CRGY opened at $16.19 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company’s 50-day moving average price is $14.36 and its 200 day moving average price is $12.67. The company has a market cap of $3.70 billion, a PE ratio of 26.11 and a beta of 2.17. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.24.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The firm had revenue of $744.87 million for the quarter, compared to analysts’ expectations of $793.88 million. During the same period last year, the firm earned $0.35 EPS. Sell-side analysts anticipate that Crescent Energy will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Crescent Energy

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