Crescent Energy (NYSE:CRGY) Upgraded to Strong-Buy by Zacks Investment Research

Crescent Energy (NYSE:CRGYGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, reports. The firm currently has a $21.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 12.78% from the stock’s current price.

According to Zacks, “Crescent Energy Company is an independent oil and natural gas company, acquires, explores, develops, exploits and produces crude oil and natural gas properties principally in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana and Wyoming in the United States. Crescent Energy Company, formerly known as Contango Oil & Gas Company, is based in FORT WORTH, Texas. “

Separately, Truist Financial assumed coverage on shares of Crescent Energy in a research report on Friday, April 8th. They issued a “buy” rating and a $25.00 price objective for the company.

Shares of CRGY stock traded up $0.28 on Wednesday, reaching $18.62. 356,554 shares of the stock were exchanged, compared to its average volume of 265,335. The stock has a market cap of $3.16 billion, a PE ratio of 104.00 and a beta of 2.51. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 3.77. The stock’s 50 day moving average price is $17.36. Crescent Energy has a 1-year low of $11.90 and a 1-year high of $19.65.

A number of large investors have recently modified their holdings of the stock. Cutler Group LP acquired a new position in Crescent Energy in the 1st quarter worth approximately $30,000. Rockefeller Capital Management L.P. bought a new position in Crescent Energy in the 4th quarter worth $33,000. Future Financial Wealth Managment LLC bought a new position in Crescent Energy in the 1st quarter worth $35,000. Whittier Trust Co. bought a new position in Crescent Energy in the 1st quarter worth $43,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Crescent Energy during the 4th quarter worth about $65,000. Hedge funds and other institutional investors own 25.92% of the company’s stock.

Crescent Energy Company Profile (Get Rating)

Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.

Further Reading

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