Crescent Energy Company (NYSE:CRGY) Receives Consensus Rating of “Hold” from Analysts

Crescent Energy Company (NYSE:CRGY) has earned an average rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $13.2727.

A number of research firms have recently weighed in on CRGY. Evercore assumed coverage on shares of Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price for the company. Piper Sandler dropped their target price on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 27th. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. Finally, Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th.

Institutional Trading of Crescent Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CRGY. Sunbelt Securities Inc. boosted its position in shares of Crescent Energy by 9.7% during the 4th quarter. Sunbelt Securities Inc. now owns 150,343 shares of the company’s stock valued at $1,261,000 after acquiring an additional 13,344 shares during the last quarter. Invesco Ltd. raised its position in Crescent Energy by 38.8% in the fourth quarter. Invesco Ltd. now owns 2,260,663 shares of the company’s stock valued at $18,967,000 after purchasing an additional 632,147 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Crescent Energy by 62.6% in the 4th quarter. Corient Private Wealth LLC now owns 28,731 shares of the company’s stock valued at $241,000 after purchasing an additional 11,063 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Crescent Energy by 79.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 26,096 shares of the company’s stock worth $219,000 after purchasing an additional 11,594 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in shares of Crescent Energy by 1.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock valued at $547,000 after acquiring an additional 1,152 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Price Performance

Shares of CRGY opened at $10.72 on Friday. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $15.13. The company’s fifty day moving average price is $8.97 and its 200-day moving average price is $8.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $2.73 billion, a PE ratio of -71.45 and a beta of 1.73.

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.