Crescent Energy Company (NYSE:CRGY) Receives Average Recommendation of “Hold” from Analysts

Crescent Energy Company (NYSE:CRGY) has received an average recommendation of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.2727.

CRGY has been the subject of a number of research reports. Wall Street Zen cut shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Mizuho increased their price objective on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 target price on shares of Crescent Energy in a report on Sunday, January 25th. BMO Capital Markets assumed coverage on shares of Crescent Energy in a research note on Friday, January 9th. They set a “market perform” rating and a $10.00 target price on the stock. Finally, Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitlin John LLC purchased a new stake in shares of Crescent Energy during the 3rd quarter worth approximately $27,000. Nisa Investment Advisors LLC grew its holdings 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 purchasing an additional 1,241 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Crescent Energy by 303.5% in 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. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $10.72 on Friday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -71.45 and a beta of 1.73. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $8.97 and a 200 day moving average of $8.99. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $15.13.

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.