Crescent Energy (NYSE:CRGY – Get Rating) had its price target lowered by analysts at Mizuho from $19.00 to $18.00 in a research note issued to investors on Friday, The Fly reports. Mizuho’s price target indicates a potential upside of 59.57% from the stock’s current price.
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CRGY has been the subject of several other research reports. Credit Suisse Group initiated coverage on Crescent Energy in a research report on Tuesday, February 14th. They issued a “neutral” rating and a $14.00 target price for the company. Truist Financial reduced their price target on Crescent Energy to $20.00 in a report on Wednesday, November 16th. Finally, Bank of America downgraded Crescent Energy from a “neutral” rating to an “underperform” rating and increased their price target for the company from $13.00 to $14.00 in a report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.50.
Crescent Energy Stock Performance
Shares of NYSE:CRGY opened at $11.28 on Friday. Crescent Energy has a 12 month low of $10.73 and a 12 month high of $19.65. The business has a 50-day moving average of $11.89 and a two-hundred day moving average of $13.51. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.58 and a quick ratio of 0.56. The firm has a market capitalization of $1.91 billion, a PE ratio of 5.15 and a beta of 2.43.
Hedge Funds Weigh In On Crescent Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. boosted its stake in shares of Crescent Energy by 45.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,201,580 shares of the company’s stock worth $43,125,000 after acquiring an additional 1,005,961 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Crescent Energy by 2.4% during the 3rd quarter. BlackRock Inc. now owns 2,019,149 shares of the company’s stock worth $27,198,000 after acquiring an additional 47,624 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Crescent Energy by 2.9% during the 2nd quarter. King Luther Capital Management Corp now owns 1,756,532 shares of the company’s stock worth $21,922,000 after acquiring an additional 49,000 shares in the last quarter. State Street Corp boosted its stake in shares of Crescent Energy by 13.2% during the 2nd quarter. State Street Corp now owns 1,243,525 shares of the company’s stock worth $15,519,000 after acquiring an additional 144,976 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Crescent Energy by 4.2% during the 4th quarter. Deutsche Bank AG now owns 839,581 shares of the company’s stock worth $10,067,000 after acquiring an additional 33,685 shares in the last quarter. 10.92% of the stock is owned by institutional investors.
About Crescent Energy
Crescent Energy Company, an energy company, explores for, 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 basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.
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