Crescent Energy (NYSE:CRGY) Raised to “Hold” at Zacks Research

Crescent Energy (NYSE:CRGY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

CRGY has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI initiated coverage on Crescent Energy in a report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 price target for the company. Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Piper Sandler lowered their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Finally, Mizuho raised their target price on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.90.

Crescent Energy Stock Up 4.9%

NYSE CRGY opened at $8.61 on Tuesday. The business has a fifty day moving average price of $8.77 and a 200 day moving average price of $8.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $2.19 billion, a P/E ratio of -57.37 and a beta of 1.73. Crescent Energy has a one year low of $6.83 and a one year high of $16.55.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $866.58 million for the quarter, compared to analysts’ expectations of $887.54 million. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%. Research analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitlin John LLC acquired a new stake in Crescent Energy in the 3rd quarter valued at approximately $27,000. Nisa Investment Advisors LLC boosted its position in shares of Crescent Energy by 50.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after buying an additional 1,241 shares during the period. Quarry LP grew its stake 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 buying an additional 3,123 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in shares of Crescent Energy by 135.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock valued at $54,000 after buying an additional 3,466 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

About Crescent Energy

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.