Mizuho Lowers Crescent Energy (NYSE:CRGY) Price Target to $12.00

Crescent Energy (NYSE:CRGY) had its target price lowered by Mizuho from $13.00 to $12.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 26.72% from the company’s previous close.

Several other equities research analysts have also issued reports on CRGY. Citigroup lowered Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating for the company. KeyCorp reduced their price target on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Truist Financial lifted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and an average price target of $16.30.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $9.47 on Tuesday. The company has a 50 day moving average of $9.33 and a 200 day moving average of $12.64. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.42 billion, a P/E ratio of 15.27 and a beta of 1.86. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $950.17 million during the quarter, compared to analysts’ expectations of $937.55 million. As a group, sell-side analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. This represents a 8.35% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 24,932 shares of company stock valued at $263,219 over the last 90 days. Company insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its position in Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after buying an additional 705 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Crescent Energy by 4.3% in the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock worth $276,000 after acquiring an additional 785 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Crescent Energy by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock worth $553,000 after acquiring an additional 897 shares during the last quarter. Dark Forest Capital Management LP boosted its stake in shares of Crescent Energy by 4.0% during the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company’s stock worth $487,000 after purchasing an additional 1,282 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in Crescent Energy by 2.1% during the 1st quarter. Yousif Capital Management LLC now owns 66,806 shares of the company’s stock valued at $751,000 after purchasing an additional 1,382 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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.