Crescent Energy (NYSE:CRGY) Stock Rating Lowered by Wall Street Zen

Crescent Energy (NYSE:CRGY) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on the stock. Piper Sandler upped their price objective on shares of Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Raymond James Financial decreased their target price on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Thursday, June 18th. Johnson Rice reissued an “accumulate” rating and issued a $19.00 target price on shares of Crescent Energy in a research note on Wednesday, March 25th. Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Finally, William Blair restated an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Crescent Energy has an average rating of “Moderate Buy” and an average target price of $15.82.

Crescent Energy Trading Down 0.4%

Shares of CRGY opened at $10.06 on Friday. Crescent Energy has a 52-week low of $7.68 and a 52-week high of $14.29. The stock has a market cap of $3.32 billion, a PE ratio of -13.42 and a beta of 1.37. The firm’s fifty day moving average is $12.11 and its two-hundred day moving average is $10.98. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Research analysts forecast that Crescent Energy will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds have recently modified their holdings of the company. Caitlin John LLC purchased a new position in Crescent Energy during the third quarter worth about $27,000. Strs Ohio purchased a new stake in shares of Crescent Energy in the 1st quarter valued at approximately $32,000. Fifth Third Bancorp grew 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 buying an additional 2,039 shares during the period. Nomura Asset Management Co. Ltd. increased 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 worth $33,000 after buying an additional 2,286 shares during the last quarter. Finally, Quarry LP increased 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 worth $37,000 after buying 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.