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

Key Points

• Truist Financial raised its Crescent Energy price target from $19 to $20 and maintained a buy rating, implying 63.47% upside from the prior close.
• Analyst sentiment is broadly positive: Crescent has a consensus “Moderate Buy” rating and an average price target of $17.21.
• Crescent beat third-quarter estimates, reporting EPS of $0.77 versus $0.59 expected and revenue of $1.35 billion versus $1.24 billion expected.

Crescent Energy (NYSE:CRGY - Get Free Report) had its target price boosted by equities research analysts at Truist Financial from $19.00 to $20.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 63.47% from the stock's previous close.

A number of other research analysts have also weighed in on the company. UBS Group decreased their target price on Crescent Energy from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Evercore reaffirmed an "outperform" rating on shares of Crescent Energy in a report on Wednesday, October 14th. Scotiabank assumed coverage on shares of Crescent Energy in a research report on Wednesday, October 14th. They issued a "sector outperform" rating and a $18.00 price objective on the stock. Stephens increased their price target on shares of Crescent Energy from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Crescent Energy from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

Crescent Energy Stock Performance

Shares of Crescent Energy stock traded down $0.78 during trading on Wednesday, hitting $12.23. 2,562,917 shares of the stock were exchanged, compared to its average volume of 7,367,493. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -611.14 and a beta of 1.71. The company has a fifty day moving average price of $13.60 and a 200-day moving average price of $12.01. Crescent Energy has a 1-year low of $7.68 and a 1-year high of $15.47. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.18. Crescent Energy had a net margin of 1.30% and a return on equity of 13.51%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities analysts predict that Crescent Energy will post 2.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in Crescent Energy during the 3rd quarter worth approximately $31,000. Strs Ohio acquired a new stake in Crescent Energy in the first quarter worth $32,000. Farther Finance Advisors LLC grew its stake in shares of Crescent Energy by 47.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,642 shares of the company's stock valued at $34,000 after buying an additional 853 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Crescent Energy by 441.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,838 shares of the company's stock valued at $62,000 after acquiring an additional 3,945 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Crescent Energy by 31.3% during the second quarter. Allworth Financial LP now owns 6,770 shares of the company's stock worth $66,000 after buying an additional 1,613 shares during the last quarter. 52.11% of the stock is owned by institutional investors.

Key Crescent Energy News

Here are the key news stories impacting Crescent Energy this week:

• Positive Sentiment: CRGY reported Q3 earnings of $0.77 per share, versus the $0.59 consensus, and revenue of $1.35 billion, above the $1.24 billion estimate. Earnings were also higher than the $0.35 per share reported a year earlier, supporting the view of improving results. Crescent Energy Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: The company’s Q3 coverage highlights operational efficiencies and portfolio transformation as drivers of results, alongside strong cash flow. This suggests execution and cash generation are helping underpin the earnings beat. CRGY Q3 deep dive
• Positive Sentiment: Crescent declared a quarterly dividend of $0.12 per share ($0.48 annualized), a 3.7% yield according to the report, adding an income component for shareholders. Crescent Energy dividend announcement
• Neutral Sentiment: Crescent confidentially submitted a draft registration statement for a proposed IPO of Crescent Royalties. A listing could provide a way to highlight the subsidiary’s value, but it remains proposed and the articles provide no offering terms or proceeds details. Crescent Energy announces confidential IPO filing for royalty subsidiary
• Neutral Sentiment: Management’s focus is shifting toward integration after portfolio changes. Successful integration could support future performance, while execution remains an item for investors to monitor. CRGY Q3 deep dive

About Crescent Energy

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company's portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.

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