Crescent Energy (NYSE:CRGY) Stock Rating Reaffirmed by Mizuho

Crescent Energy (NYSE:CRGYGet Free Report)‘s stock had its “neutral” rating restated by equities researchers at Mizuho in a research note issued to investors on Friday, Benzinga reports. They presently have a $13.00 target price on the stock, down from their prior target price of $14.00. Mizuho’s price objective suggests a potential upside of 15.56% from the company’s current price.

CRGY has been the topic of a number of other research reports. Raymond James decreased their target price on shares of Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Evercore ISI initiated coverage on shares of Crescent Energy in a research report on Friday, December 1st. They set an “outperform” rating and a $16.00 price objective on the stock. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, March 5th. Finally, TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.29.

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Crescent Energy Price Performance

NYSE CRGY opened at $11.25 on Friday. Crescent Energy has a 12 month low of $9.17 and a 12 month high of $14.22. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.88 and a beta of 2.23. The company’s 50 day moving average is $11.08 and its two-hundred day moving average is $11.67. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98.

Insider Activity at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new stake in shares of Crescent Energy in the fourth quarter valued at about $62,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Crescent Energy in the second quarter worth about $64,000. Amalgamated Bank raised its holdings in Crescent Energy by 31.1% in the fourth quarter. Amalgamated Bank now owns 6,854 shares of the company’s stock worth $82,000 after purchasing an additional 1,626 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Crescent Energy by 227.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,591 shares of the company’s stock worth $88,000 after purchasing an additional 4,577 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Crescent Energy by 318.3% in the second quarter. Royal Bank of Canada now owns 10,182 shares of the company’s stock worth $106,000 after purchasing an additional 7,748 shares in the last quarter. 53.31% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

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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.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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