Crescent Energy (NYSE:CRGY) Price Target Raised to $23.00

Crescent Energy (NYSE:CRGY) had its price target lifted by Raymond James from $22.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a strong-buy rating on the stock.

A number of other brokerages have also recently commented on CRGY. Pickering Energy Partners started coverage on Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Stephens raised their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wells Fargo & Company reduced 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 report on Monday, October 21st. Truist Financial boosted their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and a consensus price target of $17.50.

Crescent Energy Price Performance

Shares of Crescent Energy stock opened at $15.98 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 25.78 and a beta of 2.17. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $12.97.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The company had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the previous year, the business earned $0.35 earnings per share. Analysts forecast that Crescent Energy will post 0.84 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is 77.42%.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CRGY. Farther Finance Advisors LLC boosted its stake in shares of Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after purchasing an additional 3,135 shares in the last quarter. Amalgamated Bank boosted its position in Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after buying an additional 2,272 shares during the period. GAMMA Investing LLC grew its holdings in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after acquiring an additional 1,621 shares during the last quarter. Zacks Investment Management acquired a new position in Crescent Energy in the 3rd quarter valued at approximately $121,000. Finally, Toth Financial Advisory Corp acquired a new position in Crescent Energy in the 4th quarter valued at approximately $131,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.