Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Mizuho Analyst Says

Crescent Energy (NYSE:CRGY) had its target price boosted by analysts at Mizuho from $14.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential upside of 20.48% from the company’s previous close.

Several other research firms have also commented on CRGY. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. KeyCorp increased their price target on shares of Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Piper Sandler raised their price objective on shares of Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Johnson Rice reissued an “accumulate” rating and set a $19.00 price objective on shares of Crescent Energy in a research note on Wednesday, March 25th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $20.00 price objective on shares of Crescent Energy in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Crescent Energy Stock Performance

NYSE:CRGY opened at $12.45 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy has a fifty-two week low of $7.68 and a fifty-two week high of $14.29. The stock has a market cap of $4.11 billion, a PE ratio of -16.60 and a beta of 1.44. The firm’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $10.67.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. Analysts expect that Crescent Energy will post 1.84 earnings per share for the current fiscal year.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caitlin John LLC purchased a new position in Crescent Energy during the third quarter worth about $27,000. Strs Ohio purchased a new position in Crescent Energy during the first quarter worth about $32,000. Fifth Third Bancorp lifted its position in Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after buying an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after buying an additional 2,286 shares during the period. Finally, Quarry LP lifted its position in Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after buying an additional 3,123 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.