Crescent Energy (NYSE:CRGY) Given New $23.00 Price Target at Raymond James

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

Other equities analysts have also recently issued reports about the stock. Stephens upped their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Truist Financial increased their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Pickering Energy Partners began coverage on Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating on the stock. Mizuho raised their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.50.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $16.31 on Thursday. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The company has a 50-day moving average price of $14.89 and a 200 day moving average price of $12.94. The company has a market cap of $3.72 billion, a P/E 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 posted its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same period last year, the firm earned $0.35 EPS. Research analysts predict that Crescent Energy will post 0.84 earnings per share for the current year.

Crescent Energy Dividend Announcement

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

Hedge Funds Weigh In On Crescent Energy

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Crescent Energy by 15,675.0% in the 3rd 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 during the period. Amalgamated Bank grew its position in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. GAMMA Investing LLC increased its stake in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares during the last quarter. Zacks Investment Management purchased a new position in Crescent Energy during the third quarter worth about $121,000. Finally, Toth Financial Advisory Corp purchased a new position in Crescent Energy during the fourth quarter worth about $131,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.