Crescent Energy (NYSE:CRGY) Research Coverage Started at KeyCorp

by · The Markets Daily

Equities researchers at KeyCorp initiated coverage on shares of Crescent Energy (NYSE:CRGY – Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $16.00 price target on the stock. KeyCorp’s price objective would indicate a potential upside of 35.02% from the company’s current price.

Several other analysts have also issued reports on CRGY. Truist Financial lifted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Wells Fargo & Company boosted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Mizuho boosted their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, March 5th. Finally, Tudor, Pickering, Holt & Co. initiated coverage on shares of Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $16.56.

View Our Latest Report on CRGY

Crescent Energy Stock Down 0.7 %

CRGY opened at $11.85 on Thursday. Crescent Energy has a fifty-two week low of $9.74 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. The company has a fifty day moving average of $11.84 and a two-hundred day moving average of $11.64. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -59.25 and a beta of 2.20.

Crescent Energy (NYSE:CRGY – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The company had revenue of $657.47 million during the quarter, compared to analysts’ expectations of $579.44 million. On average, research analysts expect that Crescent Energy will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Crescent Energy by 94.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock worth $96,585,000 after buying an additional 3,705,389 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Crescent Energy during the 4th quarter worth approximately $1,393,000. Northside Capital Management LLC purchased a new stake in Crescent Energy during the 1st quarter worth approximately $4,453,000. Hotchkis & Wiley Capital Management LLC increased its stake in Crescent Energy by 21.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after buying an additional 291,990 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Crescent Energy during the 3rd quarter worth approximately $6,320,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

(Get Free Report)

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.

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