Crescent Energy (NYSE:CRGY) Receives $17.50 Average Price Target from Brokerages

Crescent Energy (NYSE:CRGY) has been given an average rating of “Buy” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.50.

CRGY has been the topic of a number of recent research reports. Truist Financial increased their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Stephens raised their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Raymond James raised their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Mizuho raised their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock.

Crescent Energy Stock Up 1.8 %

Shares of NYSE CRGY opened at $15.15 on Wednesday. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. 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 firm’s 50 day simple moving average is $15.08 and its two-hundred day simple moving average is $13.34. The stock has a market capitalization of $3.46 billion, a P/E ratio of 24.43 and a beta of 2.16.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Creative Planning raised its position in shares of Crescent Energy by 37.1% in the 3rd quarter. Creative Planning now owns 112,834 shares of the company’s stock worth $1,236,000 after purchasing an additional 30,530 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Crescent Energy in the 3rd quarter worth about $206,000. Koss Olinger Consulting LLC purchased a new position in shares of Crescent Energy in the 3rd quarter worth about $533,000. Montgomery Investment Management Inc. purchased a new position in shares of Crescent Energy in the 3rd quarter worth about $272,000. Finally, Farther Finance Advisors LLC raised its position in shares of 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 purchasing an additional 3,135 shares during the last quarter. Hedge funds and other institutional investors 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.