Crescent Energy (NYSE:CRGY) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Crescent Energy from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $15.83.
• Recent analyst actions were largely positive: Raymond James maintained a “strong buy” with a $19 target, while UBS, Stephens and Mizuho raised their price objectives.
• Crescent Energy reported quarterly EPS of $0.69, beating estimates by $0.10, and revenue of $1.39 billion, up 55.3% year over year. Shares were up 2.3% and opened at $11.59.

Crescent Energy (NYSE:CRGY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other analysts have also issued reports on CRGY. Raymond James Financial reissued a "strong-buy" rating and issued a $19.00 price target on shares of Crescent Energy in a research report on Monday. Mizuho boosted their price objective on Crescent Energy from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Tuesday. UBS Group increased their price objective on Crescent Energy from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday. Stephens raised their target price on Crescent Energy from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Zacks Research lowered Crescent Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.83.

Crescent Energy Stock Up 2.3%

Shares of NYSE CRGY opened at $11.59 on Friday. Crescent Energy has a one year low of $7.68 and a one year high of $14.29. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.94 and a quick ratio of 0.57. The business's fifty day moving average price is $10.72 and its 200-day moving average price is $11.39. The stock has a market capitalization of $3.83 billion, a PE ratio of -231.65 and a beta of 1.41.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.26 billion. The business's revenue for the quarter was up 55.3% on a year-over-year basis. On average, equities research analysts anticipate that Crescent Energy will post 1.8 EPS for the current year.

Institutional Trading of Crescent Energy

A number of hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Crescent Energy during the first quarter valued at approximately $32,000. Fifth Third Bancorp boosted its stake in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company's stock valued at $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company's stock valued at $33,000 after purchasing an additional 2,286 shares during the last quarter. Quarry LP grew its holdings in shares of Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company's stock valued at $37,000 after purchasing an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP raised its position in Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company's stock worth $40,000 after purchasing an additional 1,401 shares during the period. Institutional investors own 52.11% of the company's stock.

Crescent Energy Company Profile

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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