Crescent Energy (NYSE:CRGY) Releases Earnings Results, Beats Expectations By $0.19 EPS

Crescent Energy (NYSE:CRGY) issued its earnings results on Wednesday. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.19, FiscalAI reports. Crescent Energy had a net margin of 0.66% and a return on equity of 11.77%.

Crescent Energy Stock Down 0.3%

Shares of NYSE CRGY traded down $0.03 during trading hours on Wednesday, hitting $10.30. 4,793,303 shares of the stock were exchanged, compared to its average volume of 5,895,853. The firm has a fifty day moving average price of $9.04 and a 200-day moving average price of $9.00. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $13.77. The company has a market cap of $2.62 billion, a PE ratio of -68.69 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.72.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Crescent Energy by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock worth $107,999,000 after purchasing an additional 2,213,352 shares during the period. State Street Corp grew its position in shares of Crescent Energy by 27.6% in the fourth quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after purchasing an additional 2,767,096 shares during the period. Geode Capital Management LLC increased its stake in Crescent Energy by 29.0% during the 4th quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock worth $46,935,000 after buying an additional 1,256,114 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Crescent Energy by 77.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after purchasing an additional 2,234,324 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after buying an additional 1,174,576 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRGY shares. Evercore assumed coverage on Crescent Energy in a report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a report on Sunday, January 25th. Wells Fargo & Company cut their target price on shares of Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Piper Sandler reduced their price target on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Finally, BMO Capital Markets began coverage on shares of Crescent Energy in a research report on Friday, January 9th. They set a “market perform” rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.27.

Crescent Energy Company Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.