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

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

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company reduced their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Truist Financial boosted their price objective on shares of Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Raymond James lifted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.80.

Crescent Energy Stock Performance

Shares of CRGY opened at $13.15 on Monday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 21.21 and a beta of 2.17. The company’s fifty day moving average is $13.67 and its 200-day moving average is $12.36. 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 has a 12 month low of $9.88 and a 12 month high of $15.54.

Crescent Energy (NYSE:CRGY) last posted 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. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same period in the prior year, the business posted $0.35 earnings per share. Equities analysts expect that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s dividend payout ratio is currently 77.42%.

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its position in shares of Crescent Energy by 14.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 33,096 shares of the company’s stock worth $362,000 after acquiring an additional 4,102 shares during the period. Neo Ivy Capital Management acquired a new stake in Crescent Energy during the third quarter worth $430,000. Geode Capital Management LLC increased its holdings in Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after buying an additional 1,164,306 shares during the period. Barclays PLC increased its holdings in Crescent Energy by 579.6% in the 3rd quarter. Barclays PLC now owns 241,137 shares of the company’s stock valued at $2,641,000 after buying an additional 205,657 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Crescent Energy in the 3rd quarter valued at $183,000. 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.