Crescent Energy's (CRGY) "Strong-Buy" Rating Reiterated at Raymond James Financial

Key Points

• Raymond James Financial has reiterated a "strong-buy" rating for Crescent Energy (CRGY), with a price target of $14.00, suggesting a potential upside of 48.45% from the company's previous close.
• Other analysts have mixed opinions: Mizuho has set a "neutral" rating with a price target of $12.00, while Wells Fargo has an "overweight" rating with a target of $19.00, indicating varying sentiments about the stock's direction.
• Crescent Energy reported a quarterly EPS of $0.43, surpassing expectations, with revenue of $897.98 million, reflecting strong operational performance amidst a challenging market environment.

Crescent Energy (NYSE:CRGY - Get Free Report)'s stock had its "strong-buy" rating reissued by analysts at Raymond James Financial in a research note issued to investors on Friday,Benzinga reports. They currently have a $14.00 price target on the stock, down from their prior price target of $16.00. Raymond James Financial's price target suggests a potential upside of 48.45% from the company's previous close.

Several other equities analysts also recently issued reports on the stock. Mizuho decreased their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Piper Sandler upped their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Crescent Energy has an average rating of "Moderate Buy" and a consensus target price of $15.70.

Crescent Energy Stock Up 0.5%

CRGY stock opened at $9.4310 on Friday. The firm has a market cap of $2.40 billion, a PE ratio of -52.45 and a beta of 1.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The firm's 50 day moving average price is $9.12 and its 200-day moving average price is $9.93.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. On average, equities research analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Institutional Trading of Crescent Energy

Several large investors have recently modified their holdings of the business. Public Sector Pension Investment Board grew its position in shares of Crescent Energy by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 626,563 shares of the company's stock valued at $5,388,000 after purchasing an additional 46,511 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Crescent Energy by 156.4% during the second quarter. Tower Research Capital LLC TRC now owns 14,091 shares of the company's stock worth $121,000 after acquiring an additional 8,595 shares during the last quarter. Corient Private Wealth LLC boosted its position in Crescent Energy by 45.8% during the second quarter. Corient Private Wealth LLC now owns 16,954 shares of the company's stock worth $146,000 after acquiring an additional 5,329 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in Crescent Energy by 42.3% during the second quarter. State of Tennessee Department of Treasury now owns 154,472 shares of the company's stock worth $1,328,000 after acquiring an additional 45,934 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in Crescent Energy during the second quarter worth approximately $200,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

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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