Piper Sandler Issues Positive Forecast for Crescent Energy (NYSE:CRGY) Stock Price

Crescent Energy (NYSE:CRGY - Get Free Report) had its price objective lifted by Piper Sandler from $14.00 to $15.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 72.02% from the company's previous close.

Several other research analysts have also recently weighed in on CRGY. KeyCorp decreased their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Mizuho reduced their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Raymond James Financial reissued a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Finally, Wells Fargo & Company reduced their target price on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.10.

Crescent Energy Stock Up 3.4%

Crescent Energy stock traded up $0.29 during midday trading on Thursday, reaching $8.72. The stock had a trading volume of 4,402,572 shares, compared to its average volume of 3,469,576. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The company has a market capitalization of $2.23 billion, a P/E ratio of -19.38 and a beta of 1.74. The company has a fifty day moving average price of $8.99 and a two-hundred day moving average price of $10.97. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.10.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a positive return on equity of 14.21% and a negative net margin of 2.88%. The firm had revenue of $950.17 million for the quarter, compared to the consensus estimate of $937.55 million. As a group, equities analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds have recently added to or reduced their stakes in CRGY. Brooklyn Investment Group lifted its position in shares of Crescent Energy by 1,110.3% in the 1st quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock worth $28,000 after purchasing an additional 2,254 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after purchasing an additional 705 shares during the period. Allworth Financial LP purchased a new stake in shares of Crescent Energy in the 1st quarter worth approximately $34,000. Quarry LP lifted its position in shares of Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 7,110 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Company Profile

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.