Crescent Energy (NYSE: CRGY) had its price target increased by Truist Financial from $15.00 to $20.00, according to a research note released on Friday. This new target price suggests a potential upside of 50.38% from the current price of the stock.
Additionally, Mizuho lowered their price target on Crescent Energy from $18.00 to $17.00 in a research note on July 18th. Currently, one analyst rates the stock as a sell, while two analysts rate it as a hold, and three analysts have given it a buy rating.
Crescent Energy has a market capitalization of $2.22 billion, with shares trading on the NYSE under the ticker symbol CRGY. The stock has a 1-year low of $9.17 and a 1-year high of $18.16. Its 50-day moving average price is $10.75, and the 200-day moving average price is $11.07.
In terms of financial performance, Crescent Energy reported earnings per share of $1.12 for the last quarter, beating the consensus estimate of $0.31 by $0.81. The company had a return on equity of 37.84% and a net margin of 7.30%. Its quarterly revenue was $590.14 million, compared to analyst estimates of $458.00 million.
Insider activities show that David C. Rockecharlie, an insider at Crescent Energy, acquired 4,000 shares of the stock on June 14th. In the last ninety days, insiders have purchased a total of 6,546 shares.
Several institutional investors and hedge funds have modified their holdings of CRGY. Carbel Capital Partners LLC acquired a new position in the company, while Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings. In total, institutional investors and hedge funds own 64.74% of the company’s stock.
Crescent Energy is an energy company that focuses on acquiring, developing, and producing oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds assets in various basins including the Eagle Ford, Rockies, Barnett, Permian, and Mid-Con in the United States.
Source: claytoncountyregister.com
