KeyCorp Forecasts Strong Price Appreciation for Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY) had its target price boosted by equities researchers at KeyCorp from $15.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 41.42% from the stock’s current price.

Several other equities analysts have also commented on the company. Mizuho upped their target price on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Jefferies Financial Group reissued a “hold” rating and set a $9.00 target price on shares of Crescent Energy in a research note on Sunday, January 25th. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Johnson Rice restated an “accumulate” rating and issued a $19.00 price objective on shares of Crescent Energy in a report on Wednesday, March 25th. Finally, William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has an average rating of “Moderate Buy” and a consensus target price of $14.80.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $13.44 on Thursday. The firm’s 50-day simple moving average is $11.29 and its 200-day simple moving average is $9.61. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $14.02. The firm has a market cap of $4.41 billion, a PE ratio of 25.84 and a beta of 1.55. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 return on equity of 8.36% and a net margin of 3.71%. Equities analysts forecast that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after purchasing an additional 7,015,982 shares during the period. American Century Companies Inc. boosted its position in shares of Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after buying an additional 1,434,789 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Crescent Energy by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock valued at $107,999,000 after buying an additional 2,213,352 shares in the last quarter. State Street Corp raised its position in Crescent Energy by 27.6% during the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after buying an additional 2,767,096 shares during the period. Finally, Geode Capital Management LLC raised its position in Crescent Energy by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after buying an additional 1,256,114 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

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.