Crescent Energy (NYSE:CRGY – Get Free Report) had its price objective lifted by equities researchers at Truist Financial from $19.00 to $20.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 61.62% from the company’s current price.
CRGY has been the topic of several other reports. Raymond James dropped their price target on shares of Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Tudor, Pickering, Holt & Co. started coverage on Crescent Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $18.00 target price on the stock. Mizuho boosted their price target on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. TheStreet raised Crescent Energy from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company raised their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $16.63.
Get Our Latest Research Report on CRGY
Crescent Energy Stock Performance
Shares of CRGY opened at $12.38 on Thursday. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $14.22. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -61.87 and a beta of 2.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day moving average of $11.55 and a 200-day moving average of $11.49.
Crescent Energy (NYSE:CRGY – Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.37. The company had revenue of $657.73 million during the quarter, compared to the consensus estimate of $584.12 million. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. As a group, equities analysts anticipate that Crescent Energy will post 1.81 earnings per share for the current year.
Insider Activity
In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Crescent Energy
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Crescent Energy by 94.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock valued at $96,585,000 after acquiring an additional 3,705,389 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Crescent Energy by 22,968.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock valued at $48,328,000 after buying an additional 3,642,584 shares in the last quarter. Zimmer Partners LP acquired a new position in Crescent Energy in the 1st quarter valued at $17,731,000. Pingora Partners LLC acquired a new position in Crescent Energy in the 4th quarter valued at $17,554,000. Finally, Yaupon Capital Management LP bought a new stake in shares of Crescent Energy during the 1st quarter valued at $10,710,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.
Crescent Energy Company Profile
Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.
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