Crescent Energy (NYSE:CRGY) Stock Rating Upgraded by Wall Street Zen

Crescent Energy (NYSE:CRGY) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

CRGY has been the subject of several other reports. Seaport Research Partners began coverage on Crescent Energy in a research note on Thursday, September 3rd. They issued a “sell” rating and a $12.00 target price for the company. UBS Group restated a “buy” rating and issued a $19.00 price objective on shares of Crescent Energy in a report on Monday, September 14th. Stephens raised their price objective on shares of Crescent Energy from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. KeyCorp reaffirmed an “overweight” rating and set a $19.00 target price on shares of Crescent Energy in a report on Thursday, June 11th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Crescent Energy in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.08.

Crescent Energy Trading Up 0.1%

Shares of CRGY stock opened at $13.91 on Friday. The firm has a fifty day moving average of $12.54 and a 200-day moving average of $12.19. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of -278.08 and a beta of 1.45. Crescent Energy has a 52-week low of $7.68 and a 52-week high of $15.47. 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 announced 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 firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The company’s quarterly revenue was up 55.3% on a year-over-year basis. On average, equities research analysts forecast that Crescent Energy will post 2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently modified their holdings of the business. First Trust Advisors LP increased its holdings in Crescent Energy by 29.0% during the 1st quarter. First Trust Advisors LP now owns 1,542,176 shares of the company’s stock worth $20,819,000 after purchasing an additional 346,242 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. lifted its holdings in shares of Crescent Energy by 7.1% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after purchasing an additional 1,897,230 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Crescent Energy by 308.2% during the first quarter. Bank of America Corp DE now owns 3,056,820 shares of the company’s stock worth $41,267,000 after buying an additional 2,307,971 shares during the period. Jennison Associates LLC boosted its position in shares of Crescent Energy by 74.1% during the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock worth $57,435,000 after buying an additional 1,810,225 shares during the period. Finally, McAlvany Wealth Management LLC grew its holdings in shares of Crescent Energy by 71.6% during the first quarter. McAlvany Wealth Management LLC now owns 231,105 shares of the company’s stock worth $3,129,000 after buying an additional 96,406 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

About Crescent Energy

Crescent Energy Company (NYSE: CRGY) is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.