Crescent Energy (NYSE:CRGY) PT Raised to $21.00 at Truist Financial

Crescent Energy (NYSE:CRGY) had its price target upped by analysts at Truist Financial from $20.00 to $21.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 69.29% from the stock’s current price.

Separately, Mizuho increased their price target on shares of Crescent Energy from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Hold” and an average price target of $16.33.

Crescent Energy Price Performance

CRGY opened at $12.41 on Wednesday. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $16.42. The firm’s fifty day moving average price is $12.38 and its two-hundred day moving average price is $11.35. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 2.91, a P/E/G ratio of 9.72 and a beta of 2.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.44. The company had revenue of $492.34 million for the quarter, compared to the consensus estimate of $470.00 million. Crescent Energy had a net margin of 7.30% and a return on equity of 32.29%. As a group, analysts anticipate that Crescent Energy will post 1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of CRGY. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Crescent Energy in the fourth quarter worth about $517,000. Carmel Capital Partners LLC purchased a new stake in shares of Crescent Energy in the first quarter worth $32,000. MAI Capital Management grew its stake in shares of Crescent Energy by 39.0% in the fourth quarter. MAI Capital Management now owns 14,643 shares of the company’s stock worth $176,000 after acquiring an additional 4,112 shares during the last quarter. Mraz Amerine & Associates Inc. grew its stake in shares of Crescent Energy by 10.2% in the first quarter. Mraz Amerine & Associates Inc. now owns 136,540 shares of the company’s stock worth $1,544,000 after acquiring an additional 12,642 shares during the last quarter. Finally, Disciplined Investments LLC purchased a new stake in shares of Crescent Energy during the first quarter valued at approximately $605,000. Hedge funds and other institutional investors own 53.31% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, 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, and Mid-Con in the United States.