Crescent Energy (NYSE:CRGY) Stock Rating Upgraded by JPMorgan Chase & Co.

Crescent Energy (NYSE:CRGY) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $19.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 55.17% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Jefferies Financial Group reissued a “hold” rating and set a $9.00 target price on shares of Crescent Energy in a research note on Sunday, January 25th. Evercore began coverage on Crescent Energy in a report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 price target on the stock. Finally, Mizuho increased their price objective on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.78.

Crescent Energy Stock Performance

CRGY opened at $12.25 on Friday. The company has a 50 day simple moving average of $10.22 and a two-hundred day simple moving average of $9.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $4.02 billion, a P/E ratio of 23.55 and a beta of 1.57. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $12.65.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.30 by $0.19. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. The firm had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. Equities analysts forecast that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds have recently made changes to their positions in CRGY. Caitlin John LLC purchased a new position in Crescent Energy during the 3rd quarter valued at approximately $27,000. Nisa Investment Advisors LLC raised its holdings in shares of Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,241 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

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.