Crescent Energy (NYSE:CRGY) Coverage Initiated at Piper Sandler

Analysts at Piper Sandler assumed coverage on shares of Crescent Energy (NYSE:CRGY - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $14.00 price target on the stock. Piper Sandler's target price would indicate a potential upside of 47.06% from the stock's current price.

A number of other research analysts have also issued reports on CRGY. Raymond James reissued a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Wells Fargo & Company lowered their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Stephens restated an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Citigroup cut shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.09.

Crescent Energy Stock Performance

Crescent Energy stock traded up $0.06 during mid-day trading on Monday, reaching $9.52. 1,773,767 shares of the company traded hands, compared to its average volume of 3,387,915. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.35 and a beta of 1.75. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm's fifty day moving average is $8.52 and its two-hundred day moving average is $12.00. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. On average, equities research analysts expect that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after buying an additional 705 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Crescent Energy by 4.3% during the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock worth $276,000 after buying an additional 785 shares during the period. Dark Forest Capital Management LP grew its holdings in shares of Crescent Energy by 4.0% in the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock valued at $487,000 after buying an additional 1,282 shares during the period. Yousif Capital Management LLC increased its stake in Crescent Energy by 2.1% during the 1st quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock worth $751,000 after purchasing an additional 1,382 shares in the last quarter. Finally, AQR Capital Management LLC increased its position 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 worth $192,000 after acquiring an additional 1,397 shares in the last quarter. 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.