Crescent Energy (NYSE:CRGY) Earns Buy Rating from Analysts at Siebert Williams Shank

Siebert Williams Shank started coverage on shares of Crescent Energy (NYSE:CRGY) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently issued reports on CRGY. Wells Fargo & Company decreased their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Stephens increased their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating for the company. Truist Financial raised their price target on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Raymond James raised their price target on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and a consensus price target of $17.50.

Crescent Energy Trading Down 0.4 %

CRGY stock traded down $0.07 on Monday, reaching $15.00. The company’s stock had a trading volume of 238,255 shares, compared to its average volume of 2,252,973. The business has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $13.09. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94. The firm has a market cap of $3.42 billion, a PE ratio of 24.22 and a beta of 2.16. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy (NYSE:CRGY) last posted 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 return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, research analysts forecast that Crescent Energy will post 0.83 EPS for the current year.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new position in Crescent Energy in the 2nd quarter valued at $2,373,000. Mackenzie Financial Corp grew its position in Crescent Energy by 23.5% in the 2nd quarter. Mackenzie Financial Corp now owns 14,669 shares of the company’s stock valued at $174,000 after acquiring an additional 2,796 shares during the last quarter. Wedmont Private Capital bought a new position in Crescent Energy in the 3rd quarter valued at $156,000. Creative Planning grew its position in Crescent Energy by 37.1% in the 3rd quarter. Creative Planning now owns 112,834 shares of the company’s stock valued at $1,236,000 after acquiring an additional 30,530 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Crescent Energy in the 3rd quarter valued at $206,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

About Crescent Energy

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.