Mizuho Increases Crescent Energy (NYSE:CRGY) Price Target to $14.00

Crescent Energy (NYSE:CRGY) had its target price increased by Mizuho from $13.00 to $14.00 in a research note published on Tuesday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

CRGY has been the subject of a number of other reports. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating for the company. Truist Financial cut their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Stephens raised 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. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Wolfe Research started coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company. Two equities 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.com, the company currently has an average rating of “Buy” and an average price target of $15.80.

Crescent Energy Trading Up 0.3 %

CRGY traded up $0.04 on Tuesday, hitting $13.55. 141,418 shares of the company were exchanged, compared to its average volume of 2,347,984. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85. The firm has a fifty day simple moving average of $11.95 and a two-hundred day simple moving average of $11.82. The stock has a market capitalization of $2.40 billion, a PE ratio of 21.80 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last issued 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 14.01%. The company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Sell-side analysts expect that Crescent Energy will post 1.11 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.54%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently modified their holdings of CRGY. Jackson Creek Investment Advisors LLC lifted its position in shares of Crescent Energy by 1.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock valued at $1,078,000 after acquiring an additional 883 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Crescent Energy by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock worth $165,000 after purchasing an additional 1,085 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Crescent Energy by 5.1% in the 1st quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock worth $366,000 after purchasing an additional 1,503 shares during the period. CWM LLC grew its holdings in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the last quarter. 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.