Crescent Energy (NYSE:CRGY) Downgraded to Accumulate Rating by Johnson Rice

Crescent Energy (NYSE:CRGY) was downgraded by investment analysts at Johnson Rice from a “buy” rating to an “accumulate” rating in a note issued to investors on Wednesday,Finviz reports. They presently have a $19.00 price target on the stock. Johnson Rice’s price target suggests a potential upside of 45.32% from the stock’s previous close.

Several other research firms have also recently weighed in on CRGY. Jefferies Financial Group restated a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a report on Sunday, January 25th. Zacks Research upgraded shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Evercore assumed coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price on the stock. BMO Capital Markets assumed coverage on shares of Crescent Energy in a report on Friday, January 9th. They set a “market perform” rating and a $10.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.30.

Crescent Energy Trading Up 4.6%

NYSE CRGY opened at $13.08 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $13.17. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 25.14 and a beta of 1.57. The business’s fifty day moving average is $10.49 and its 200 day moving average is $9.35.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. As a group, sell-side analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Institutional Trading of Crescent Energy

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after buying an additional 7,015,982 shares in the last quarter. American Century Companies Inc. boosted its holdings in Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company’s stock worth $172,721,000 after acquiring an additional 1,434,789 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Crescent Energy by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock worth $107,999,000 after acquiring an additional 2,213,352 shares in the last quarter. State Street Corp grew its stake in 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 acquiring an additional 2,767,096 shares during the period. Finally, Geode Capital Management LLC grew its stake in Crescent Energy by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 5,592,793 shares of the company’s stock valued at $46,935,000 after acquiring an additional 1,256,114 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

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.