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

Crescent Energy (NYSE:CRGY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research analysts have also recently issued reports on the stock. Johnson Rice reissued an “accumulate” rating and set a $19.00 target price on shares of Crescent Energy in a report on Wednesday, March 25th. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a research report on Friday, March 20th. Wells Fargo & Company lifted their price objective on Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Mizuho upped 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 analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $13.44 on Friday. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $14.02. The business’s 50 day moving average price is $11.29 and its 200 day moving average price is $9.61. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The firm has a market cap of $4.41 billion, a P/E ratio of 25.84 and a beta of 1.55.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The company had revenue of $865.05 million during the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. On average, sell-side analysts expect that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Trading of Crescent Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. McAlvany Wealth Management LLC purchased a new position in shares of Crescent Energy during the 4th quarter valued at approximately $1,130,000. Corient Private Wealth LLC increased its holdings in Crescent Energy by 62.6% in the 4th quarter. Corient Private Wealth LLC now owns 28,731 shares of the company’s stock worth $241,000 after acquiring an additional 11,063 shares in the last quarter. Alpine Global Management LLC acquired a new position in Crescent Energy during the fourth quarter worth $183,000. MidFirst Bank purchased a new position in Crescent Energy during the fourth quarter valued at $232,000. Finally, Sunbelt Securities Inc. lifted its holdings in Crescent Energy by 9.7% during the fourth quarter. Sunbelt Securities Inc. now owns 150,343 shares of the company’s stock valued at $1,261,000 after purchasing an additional 13,344 shares in the last quarter. 52.11% of the stock is currently 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.