Crescent Energy's Latest Eagle Ford Acquisition Signals Solid Strategy: Why This Analyst Says 'Buy'
Portfolio Pulse from Shivani Kumaresan
Crescent Energy Company (NYSE:CRGY) has been reiterated a Buy rating by Mizuho Securities USA LLC, with an unchanged price target of $18.00. Crescent recently announced its second acquisition of Eagle Ford working interest this year and a secondary stock offering. The company will acquire incremental working interests in its existing Western Eagle Ford position for $250 million cash. CRGY shares are trading higher by 1.06% at $12.43.
September 12, 2023 | 6:09 pm
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POSITIVE IMPACT
Crescent Energy's recent acquisition and secondary stock offering are seen as positive moves by Mizuho Securities, which reiterated a Buy rating for the company. The shares are currently trading higher.
Crescent Energy's recent acquisition and secondary stock offering are seen as strategic moves that could potentially increase the company's value. This has led Mizuho Securities to reiterate a Buy rating for the company, indicating a positive outlook. The news has also positively impacted the company's stock price, which is currently trading higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100