Crescent Energy (NYSE:CRGY) Rating Lowered to Moderate Buy at Johnson Rice

Crescent Energy (NYSE:CRGY) was downgraded by investment analysts at Johnson Rice from a “strong-buy” rating to a “moderate buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on CRGY. Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price objective on shares of Crescent Energy in a research note on Sunday, January 25th. Wells Fargo & Company lifted their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price on the stock in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.30.

Crescent Energy Trading Up 3.3%

Shares of NYSE CRGY opened at $13.52 on Tuesday. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $13.57. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $10.59 and a 200-day simple moving average of $9.38. The stock has a market capitalization of $4.43 billion, a PE ratio of 25.99 and a beta of 1.57.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.19. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The firm had revenue of $865.05 million for the quarter, compared to the consensus estimate of $884.64 million. On average, equities analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CRGY. Caitlin John LLC acquired a new position in shares of Crescent Energy during the third quarter worth about $27,000. Nisa Investment Advisors LLC increased its stake in shares of Crescent Energy by 50.2% during the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after buying an additional 1,241 shares during the period. Fifth Third Bancorp raised its holdings in Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Crescent Energy by 134.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Quarry LP lifted its stake in Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after acquiring an additional 3,123 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.