Crescent Energy (NYSE:CRGY) Price Target Raised to $20.00

Crescent Energy (NYSE:CRGY) had its price target hoisted by equities researchers at Raymond James from $19.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target points to a potential upside of 29.12% from the company’s previous close.

CRGY has been the subject of several other research reports. Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Stephens boosted their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Mizuho increased their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a 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. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $16.30.

Crescent Energy Trading Up 6.4 %

NYSE CRGY traded up $0.93 during trading hours on Thursday, reaching $15.49. The company had a trading volume of 913,713 shares, compared to its average volume of 2,336,097. The stock has a 50-day moving average of $12.49 and a 200 day moving average of $12.03. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $15.53. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $3.54 billion, a P/E ratio of 24.90 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. The firm had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same period in the previous year, the firm posted $0.35 EPS. As a group, research analysts anticipate that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRGY. Jackson Creek Investment Advisors LLC raised its holdings in shares of Crescent Energy by 1.0% during the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after purchasing an additional 883 shares during the period. ProShare Advisors LLC increased its stake in shares of Crescent Energy by 8.5% in the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock worth $165,000 after acquiring an additional 1,085 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of Crescent Energy by 5.1% during the 1st quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock worth $366,000 after purchasing an additional 1,503 shares in the last quarter. CWM LLC lifted its holdings in 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. Finally, Amalgamated Bank increased its stake 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 purchasing an additional 2,272 shares during the period. 52.11% of the stock is currently 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.