Crescent Energy (NYSE:CRGY) Coverage Initiated at Siebert Williams Shank

Research analysts at Siebert Williams Shank started coverage on shares of Crescent Energy (NYSE:CRGY) in a report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

A number of other equities research analysts have also recently commented on CRGY. Raymond James lifted their target price on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Stephens increased their price target on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Truist Financial upped their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho raised their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $17.50.

Crescent Energy Stock Performance

NYSE CRGY opened at $15.23 on Monday. The company has a fifty day moving average price of $15.04 and a 200-day moving average price of $13.13. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 24.56 and a beta of 2.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the prior year, the firm posted $0.35 EPS. As a group, equities research analysts predict that Crescent Energy will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

A number of large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares during the last quarter. Amalgamated Bank boosted its position in Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the period. GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Crescent Energy in the third quarter worth about $121,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy in the 4th quarter valued at about $131,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.