Crescent Energy (NYSE:CRGY) Rating Increased to Hold at BMO Capital Markets

Crescent Energy (NYSE:CRGY) was upgraded by equities research analysts at BMO Capital Markets to a “hold” rating in a research note issued to investors on Friday, Marketbeat reports.

CRGY has been the topic of a number of other research reports. Evercore ISI started coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a research note on Wednesday, October 8th. Mizuho lifted their target price on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Wall Street Zen lowered shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research cut shares of Crescent Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.55.

Crescent Energy Stock Performance

Shares of CRGY opened at $8.12 on Friday. The stock has a 50 day moving average of $8.83 and a 200 day moving average of $8.89. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -54.16 and a beta of 1.73. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.72.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $866.58 million for the quarter, compared to analysts’ expectations of $887.54 million. Crescent Energy had a return on equity of 11.77% and a net margin of 0.66%. As a group, sell-side analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRGY. American Century Companies Inc. increased its position in Crescent Energy by 8.0% during the 3rd quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock valued at $172,721,000 after buying an additional 1,434,789 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Crescent Energy by 13.2% in the third quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company’s stock worth $95,080,000 after acquiring an additional 1,243,702 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Crescent Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 4,270,974 shares of the company’s stock worth $36,738,000 after acquiring an additional 195,385 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Crescent Energy by 0.8% during the third quarter. Millennium Management LLC now owns 2,162,655 shares of the company’s stock valued at $19,291,000 after acquiring an additional 17,993 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.