Crescent Energy (NYSE:CRGY) Upgraded to "Strong Sell" at Seaport Research Partners

Key Points

• Seaport Research Partners downgraded Crescent Energy to “strong sell,” contrasting with the broader analyst consensus of “moderate buy” and an average price target of $15.92.
• Crescent Energy reported quarterly EPS of $0.69, exceeding estimates of $0.59, while revenue reached $1.39 billion, up 55.3% year over year and above expectations.
• Shares opened at $13.93, near the company’s 12-month high of $14.53. Institutional investors own 52.11% of the stock, and several firms recently increased their holdings.

Crescent Energy (NYSE:CRGY - Get Free Report) was upgraded by analysts at Seaport Research Partners to a "strong sell" rating in a report released on Wednesday, Zacks reports.

Several other research firms have also recently weighed in on CRGY. Raymond James Financial restated a "strong-buy" rating and set a $19.00 target price on shares of Crescent Energy in a research note on Monday, August 3rd. Wall Street Zen upgraded Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Stephens boosted their price target on Crescent Energy from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. KeyCorp restated an "overweight" rating and set a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th. Finally, Zacks Research lowered Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $15.92.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $13.93 on Wednesday. The firm has a 50 day moving average of $11.50 and a 200-day moving average of $11.90. Crescent Energy has a 12 month low of $7.68 and a 12 month high of $14.53. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $4.60 billion, a PE ratio of -278.54 and a beta of 1.45.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The business's quarterly revenue was up 55.3% compared to the same quarter last year. On average, equities research analysts predict that Crescent Energy will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its holdings in shares of Crescent Energy by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company's stock valued at $46,000 after acquiring an additional 1,066 shares in the last quarter. Sunbelt Securities Inc. raised its position in Crescent Energy by 0.7% in the first quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company's stock valued at $2,044,000 after purchasing an additional 1,073 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Crescent Energy by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company's stock valued at $547,000 after purchasing an additional 1,152 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Crescent Energy by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company's stock valued at $526,000 after purchasing an additional 1,245 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company's stock valued at $192,000 after purchasing an additional 1,397 shares in the last quarter. 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.

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