Crescent Energy (NYSE:CRGY) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Crescent Energy from a "buy" to a "hold" in a client research note issued Saturday.
• Despite that downgrade, the stock carries a consensus rating of "Moderate Buy" with an average analyst target of $15.50 and several firms raising price targets (Wells Fargo to $18, Piper to $16).
• Crescent recently reported an EPS beat ($0.49 vs. $0.30 expected) but missed revenue expectations; shares trade around $13.47 with a 52-week range of $7.68–$14.02 and a $4.42 billion market cap.

Crescent Energy (NYSE:CRGY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company increased their price target on Crescent Energy from $14.00 to $18.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. BMO Capital Markets began coverage on Crescent Energy in a research note on Friday, January 9th. They issued a "market perform" rating and a $10.00 price target for the company. William Blair reiterated an "outperform" rating on shares of Crescent Energy in a research note on Friday, March 6th. Piper Sandler increased their price target on Crescent Energy from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Finally, Weiss Ratings upgraded Crescent Energy from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.50.

Crescent Energy Stock Up 0.1%

Shares of CRGY opened at $13.47 on Friday. Crescent Energy has a 52 week low of $7.68 and a 52 week high of $14.02. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 25.89 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a fifty day moving average of $12.37 and a 200-day moving average of $10.11.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The company had revenue of $865.05 million during the quarter, compared to analysts' expectations of $884.64 million. As a group, sell-side analysts anticipate that Crescent Energy will post 1.49 earnings per share for the current fiscal year.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. CM Management LLC acquired a new stake in Crescent Energy in the third quarter valued at $1,561,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Crescent Energy in the third quarter valued at $1,034,000. Public Sector Pension Investment Board increased its holdings in Crescent Energy by 15.7% in the third quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company's stock valued at $6,467,000 after purchasing an additional 98,428 shares during the period. Victory Capital Management Inc. increased its holdings in Crescent Energy by 53.2% in the third quarter. Victory Capital Management Inc. now owns 1,119,187 shares of the company's stock valued at $9,983,000 after purchasing an additional 388,604 shares during the period. Finally, Quantbot Technologies LP increased its holdings in Crescent Energy by 37.5% in the third quarter. Quantbot Technologies LP now owns 452,963 shares of the company's stock valued at $4,040,000 after purchasing an additional 123,653 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

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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