Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Mizuho Analyst Says

Crescent Energy (NYSE:CRGY) had its price target hoisted by Mizuho from $13.00 to $14.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 9.20% from the company’s current price.

Several other research firms also recently issued reports on CRGY. Truist Financial cut their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Stephens upped their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. 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. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Wolfe Research started coverage on shares of Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target on the stock. Two investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.80.

Crescent Energy Stock Up 2.3 %

Shares of CRGY stock traded up $0.29 during mid-day trading on Tuesday, hitting $12.82. 1,531,763 shares of the stock traded hands, compared to its average volume of 2,347,981. The stock has a market cap of $2.28 billion, a P/E ratio of 641.00 and a beta of 2.19. The stock’s fifty day moving average is $11.83 and its two-hundred day moving average is $11.77. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87.

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

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski acquired 9,344 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were acquired 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 $2,135,480.22. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 12,294 shares of company stock valued at $131,297 in the last 90 days. 13.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC lifted its position in shares of Crescent Energy by 1.0% during the 2nd quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock valued at $1,078,000 after buying an additional 883 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Crescent Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after buying an additional 1,085 shares in the last quarter. Quadrature Capital Ltd lifted its position 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 valued at $366,000 after buying an additional 1,503 shares in the last quarter. CWM LLC lifted its position in shares of Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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.