Crescent Energy (NYSE:CRGY) Price Target Raised to $16.00

Crescent Energy (NYSE:CRGY) had its target price raised by Mizuho from $14.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Raymond James lifted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Stephens increased their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. began coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Truist Financial boosted their target price on Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. 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 company’s stock. Based on data from MarketBeat, Crescent Energy presently has an average rating of “Buy” and a consensus price target of $16.80.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $13.15 on Monday. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $15.54. The firm has a market cap of $3.00 billion, a P/E ratio of 21.21 and a beta of 2.17. The stock has a fifty day moving average price of $13.67 and a two-hundred day moving average price of $12.36. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, November 4th. The company reported $0.39 earnings per share 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 business had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same quarter last year, the business posted $0.35 earnings per share. Research analysts forecast that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.65%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

Hedge Funds Weigh In On Crescent Energy

A number of large investors have recently made changes to their positions in CRGY. CWM LLC grew its position in Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after purchasing an additional 1,832 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Crescent Energy by 818.0% during the 2nd quarter. Raymond James & Associates now owns 113,092 shares of the company’s stock valued at $1,340,000 after acquiring an additional 100,772 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Crescent Energy by 18,564.4% in the second quarter. Nisa Investment Advisors LLC now owns 301,616 shares of the company’s stock worth $3,574,000 after acquiring an additional 300,000 shares during the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Crescent Energy during the second quarter worth $36,000. Finally, Bank of New York Mellon Corp boosted its position in Crescent Energy by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 751,012 shares of the company’s stock valued at $8,899,000 after purchasing an additional 87,318 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.