Crescent Energy (NYSE:CRGY) Now Covered by Piper Sandler

Investment analysts at Piper Sandler assumed coverage on shares of Crescent Energy (NYSE:CRGY) in a report issued on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $14.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 55.12% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. KeyCorp lowered their price objective on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Wells Fargo & Company lowered their price target on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Mizuho reduced their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Williams Trading set a $16.00 target price on Crescent Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.09.

Crescent Energy Stock Performance

CRGY opened at $9.03 on Monday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 14.56 and a beta of 1.75. The business’s 50-day moving average price is $8.53 and its two-hundred day moving average price is $12.08. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. 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 (NYSE:CRGY) last announced its earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Equities analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the acquisition, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. The trade was a 8.35% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 24,932 shares of company stock valued at $263,219 over the last ninety days. 13.20% of the stock is currently owned by company insiders.

Institutional Trading of Crescent Energy

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in shares of Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock valued at $28,000 after acquiring an additional 2,254 shares in the last quarter. Allworth Financial LP bought a new stake in Crescent Energy in the 1st quarter valued at about $34,000. Public Employees Retirement System of Ohio grew its position in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after purchasing an additional 705 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after purchasing an additional 2,377 shares during the period. Finally, Quarry LP increased its holdings in shares of Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $64,000 after purchasing an additional 3,155 shares during the period. 52.11% of the stock is currently owned by institutional investors.

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.