Crescent Energy Company (NYSE:CRGY) Stock Has Consensus Price Target of $17.14

Crescent Energy Company (NYSE:CRGY) has earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $17.14.

Several equities analysts have recently issued reports on the stock. Seaport Research Partners initiated coverage on shares of Crescent Energy in a research note on Thursday, September 3rd. They set a “sell” rating and a $12.00 price target for the company. UBS Group lowered their target price on Crescent Energy from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Morgan Stanley downgraded Crescent Energy to an “underweight” rating in a research report on Monday, August 3rd. Zacks Research raised shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Evercore reiterated an “outperform” rating on shares of Crescent Energy in a research report on Wednesday, October 14th.

Institutional Trading of Crescent Energy

Large investors have recently modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Crescent Energy by 136.3% in the third quarter. Covestor Ltd now owns 12,569 shares of the company’s stock worth $162,000 after buying an additional 7,250 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its holdings in shares of Crescent Energy by 1.6% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 211,424 shares of the company’s stock worth $2,725,000 after buying an additional 3,359 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Crescent Energy by 20.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 66,674 shares of the company’s stock valued at $859,000 after acquiring an additional 11,300 shares during the period. McAlvany Wealth Management LLC boosted its position in shares of Crescent Energy by 13.5% in the 3rd quarter. McAlvany Wealth Management LLC now owns 264,258 shares of the company’s stock worth $3,406,000 after purchasing an additional 31,412 shares in the last quarter. Finally, Welch Group LLC lifted its position in Crescent Energy by 10.5% during the third quarter. Welch Group LLC now owns 53,472 shares of the company’s stock valued at $689,000 after purchasing an additional 5,076 shares during the period. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Up 0.1%

Crescent Energy stock opened at $14.21 on Friday. Crescent Energy has a twelve month low of $7.68 and a twelve month high of $15.47. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $13.63 and a 200-day moving average of $11.96. The stock has a market capitalization of $6.00 billion, a PE ratio of -284.14 and a beta of 1.71.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. The business’s revenue was up 55.3% compared to the same quarter last year. On average, equities research analysts anticipate that Crescent Energy will post 2.03 EPS for the current fiscal year.

About Crescent Energy

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company’s portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.