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

Crescent Energy (NYSE:CRGY) had its price objective raised by Mizuho from $14.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential upside of 20.48% from the stock’s current price.

Other analysts have also issued research reports about the stock. Raymond James Financial restated a “strong-buy” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Thursday, April 30th. Stephens restated an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a research note on Tuesday, May 5th. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. William Blair restated an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Finally, KeyCorp lifted their price target on shares of Crescent Energy from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Crescent Energy Stock Performance

Crescent Energy stock opened at $12.45 on Wednesday. The stock’s 50-day moving average is $12.89 and its 200-day moving average is $10.67. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -16.60 and a beta of 1.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. Crescent Energy has a 12 month low of $7.68 and a 12 month high of $14.29.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRGY. Caitlin John LLC acquired a new position in Crescent Energy during the 3rd quarter valued at approximately $27,000. Strs Ohio acquired a new position in Crescent Energy during the 1st quarter worth $32,000. Fifth Third Bancorp boosted its position in Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares during the period. Finally, Quarry LP boosted its position in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after acquiring an additional 3,123 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

About Crescent Energy

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.