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

Crescent Energy (NYSE:CRGY) had its target price boosted by Raymond James from $22.00 to $23.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

CRGY has been the topic of several other reports. Wells Fargo & Company reduced their price target on 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 upped their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho lifted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Pickering Energy Partners began coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating for the company. Finally, Stephens lifted their target price on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and a consensus price target of $17.50.

Crescent Energy Trading Up 1.0 %

Shares of CRGY stock opened at $16.31 on Thursday. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The firm’s 50 day moving average price is $14.89 and its two-hundred day moving average price is $12.94. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 26.31 and a beta of 2.17. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

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

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 2.94%. Crescent Energy’s payout ratio is 77.42%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently made changes to their positions in CRGY. Dimensional Fund Advisors LP increased its stake in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after purchasing an additional 1,226,027 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Crescent Energy by 225.9% during the 2nd quarter. Renaissance Technologies LLC now owns 346,800 shares of the company’s stock valued at $4,110,000 after buying an additional 240,400 shares during the last quarter. Sei Investments Co. raised its stake in Crescent Energy by 1,852.6% during the second quarter. Sei Investments Co. now owns 848,798 shares of the company’s stock worth $10,058,000 after acquiring an additional 805,328 shares during the period. Marshall Wace LLP lifted its holdings in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after acquiring an additional 2,098,303 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Crescent Energy during the second quarter valued at approximately $315,000. 52.11% of the stock is owned by institutional investors and hedge funds.

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.