Crescent Energy (NYSE:CRGY) Reaches New 12-Month High After Analyst Upgrade

Shares of Crescent Energy (NYSE:CRGY) hit a new 52-week high during mid-day trading on Monday after Mizuho raised their price target on the stock from $16.00 to $17.00. Mizuho currently has a neutral rating on the stock. Crescent Energy traded as high as $16.33 and last traded at $16.33, with a volume of 222769 shares changing hands. The stock had previously closed at $15.86.

Several other equities research analysts have also recently commented on the stock. Raymond James boosted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Pickering Energy Partners initiated coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. Finally, Stephens raised their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Two 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.20.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings 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 worth $35,000 after acquiring an additional 3,135 shares in the last quarter. Amalgamated Bank increased its position in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 1,621 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at about $121,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Crescent Energy in the third quarter worth approximately $155,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Up 1.0 %

The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 26.73 and a beta of 2.17. The business has a fifty day moving average of $14.44 and a 200 day moving average of $12.70.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities analysts predict that Crescent Energy will post 0.98 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 2.90%. Crescent Energy’s payout ratio is currently 77.42%.

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.