Crescent Energy (NYSE:CRGY) Price Target Raised to $14.00

Crescent Energy (NYSE:CRGY) had its price objective increased by equities research analysts at Piper Sandler from $13.00 to $14.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 18.44% from the company’s current price.

CRGY has been the topic of several other research reports. Wall Street Zen lowered shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 20th. BMO Capital Markets began coverage on Crescent Energy in a report on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target for the company. Evercore initiated coverage on Crescent Energy in a report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings upgraded Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.67.

Crescent Energy Trading Up 2.7%

Shares of CRGY traded up $0.31 during mid-day trading on Thursday, reaching $11.82. The company had a trading volume of 5,793,908 shares, compared to its average volume of 7,216,496. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $12.40. The firm has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $9.08. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 22.73 and a beta of 1.57. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping 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 business had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. On average, sell-side analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. boosted its stake in Crescent Energy by 34.6% during the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after purchasing an additional 7,015,982 shares during the period. American Century Companies Inc. raised its holdings in shares of Crescent Energy by 28.4% during the second quarter. American Century Companies Inc. now owns 17,928,597 shares of the company’s stock valued at $154,186,000 after buying an additional 3,960,998 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Crescent Energy by 775.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock worth $27,714,000 after buying an additional 2,925,780 shares during the period. State Street Corp grew its holdings in Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock worth $107,464,000 after buying an additional 2,767,096 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Crescent Energy by 77.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock worth $42,836,000 after buying an additional 2,234,324 shares in the last quarter. 52.11% of the stock is 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.