Crescent Energy (NYSE:CRGY) Upgraded at Seaport Research Partners

Crescent Energy (NYSE:CRGY) was upgraded by equities research analysts at Seaport Research Partners to a “strong sell” rating in a research note issued on Wednesday, Zacks reports.

Several other research analysts have also issued reports on the company. Weiss Ratings raised Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Stephens upped their price target on Crescent Energy from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $19.00 price target on shares of Crescent Energy in a research note on Monday, August 3rd. Morgan Stanley downgraded Crescent Energy to an “underweight” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company cut their price objective on Crescent Energy from $24.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.92.

Crescent Energy Price Performance

CRGY stock opened at $13.93 on Wednesday. The company has a fifty day moving average price of $11.50 and a 200-day moving average price of $11.90. The company has a market capitalization of $4.60 billion, a P/E ratio of -278.54 and a beta of 1.45. Crescent Energy has a 52-week low of $7.68 and a 52-week high of $14.53. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. The business’s revenue for the quarter was up 55.3% on a year-over-year basis. As a group, equities analysts expect that Crescent Energy will post 2.07 EPS for the current year.

Hedge Funds Weigh In On Crescent Energy

A number of hedge funds have recently bought and sold shares of CRGY. Strs Ohio bought a new stake in Crescent Energy in the 1st quarter worth about $32,000. Fifth Third Bancorp increased its stake in Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after buying an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted 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 worth $33,000 after buying an additional 2,286 shares in the last quarter. Quarry LP lifted its position in shares of Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after buying an additional 3,123 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Crescent Energy by 42.3% during the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares in the last quarter. 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.