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Crescent Energy (NYSE:CRGY) Earns Sell (D) Rating from Weiss Ratings

Crescent Energy logo with Energy background

Key Points

  • Crescent Energy's stock has been given a sell (D) rating by Weiss Ratings, although other analysts have varying opinions on the stock's potential.
  • The average price target for Crescent Energy is currently $15.67, with a consensus rating of Moderate Buy from analysts.
  • The company's stock experienced a slight increase of 0.5% on Wednesday, reaching a price of $9.17 during trading hours.
  • Interested in Crescent Energy? Here are five stocks we like better.

Crescent Energy (NYSE:CRGY - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. Raymond James Financial set a $17.00 price objective on Crescent Energy and gave the stock a "strong-buy" rating in a research note on Wednesday, August 27th. Piper Sandler raised their target price on Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Wall Street Zen upgraded Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Zacks Research cut Crescent Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $15.67.

Check Out Our Latest Stock Report on CRGY

Crescent Energy Stock Up 0.5%

NYSE:CRGY traded up $0.05 during trading hours on Wednesday, reaching $9.17. 2,613,915 shares of the company traded hands, compared to its average volume of 5,339,532. The stock has a market capitalization of $2.33 billion, a P/E ratio of -50.94 and a beta of 1.89. The business's 50-day moving average price is $9.13 and its two-hundred day moving average price is $9.02. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.20. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The company had revenue of $897.98 million for the quarter, compared to the consensus estimate of $868.34 million. Analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Energy

Several hedge funds have recently made changes to their positions in CRGY. Brooklyn Investment Group increased its holdings in Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock valued at $28,000 after buying an additional 2,254 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Crescent Energy in the 1st quarter valued at $34,000. Osaic Holdings Inc. raised its stake in shares of Crescent Energy by 25.2% in 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 during the period. GAMMA Investing LLC lifted its holdings in Crescent Energy by 287.3% in the 2nd quarter. GAMMA Investing LLC now owns 9,585 shares of the company's stock worth $82,000 after buying an additional 7,110 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Crescent Energy during the second quarter worth about $91,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Company Profile

(Get Free Report)

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.

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Analyst Recommendations for Crescent Energy (NYSE:CRGY)

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