Crescent Energy (NYSE:CRGY) Receives Average Recommendation of “Buy” from Analysts

Shares of Crescent Energy (NYSE:CRGY) have been assigned an average rating of “Buy” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $15.70.

A number of brokerages have recently issued reports on CRGY. Pickering Energy Partners began coverage on shares of Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating on the stock. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Truist Financial cut their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Stephens increased their price target on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target for the company.

Insiders Place Their Bets

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the transaction, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders acquired 12,294 shares of company stock worth $131,297. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after buying an additional 1,137,367 shares during the last quarter. American Century Companies Inc. lifted its position in Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock valued at $92,145,000 after purchasing an additional 6,348,598 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Crescent Energy by 286.7% in the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after buying an additional 2,098,303 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Crescent Energy by 85.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock worth $31,477,000 after buying an additional 1,226,027 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Crescent Energy by 63.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock valued at $18,930,000 after buying an additional 614,969 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of CRGY opened at $12.26 on Monday. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85. The business’s fifty day simple moving average is $11.83 and its two-hundred day simple moving average is $11.76. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 613.00 and a beta of 2.18.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The company had revenue of $653.28 million for the quarter, compared to analysts’ expectations of $619.00 million. Research analysts anticipate that Crescent Energy will post 1.1 earnings per share for the current fiscal year.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.