Crescent Energy (NYSE:CRGY – Get Free Report) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Several other research analysts have also issued reports on the stock. Johnson Rice restated an “accumulate” rating and issued a $19.00 price target on shares of Crescent Energy in a research report on Wednesday, March 25th. KeyCorp reiterated an “overweight” rating and set a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th. Stephens reissued an “overweight” rating and set a $18.00 price objective on shares of Crescent Energy in a research note on Tuesday, May 5th. Mizuho lifted their target price on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Crescent Energy has a consensus rating of “Moderate Buy” and an average target price of $15.58.
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Crescent Energy Stock Performance
Crescent Energy (NYSE:CRGY – Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. Analysts forecast that Crescent Energy will post 1.77 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Crescent Energy
Several large investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in Crescent Energy in the first quarter worth approximately $32,000. Fifth Third Bancorp raised its position in Crescent Energy by 109.3% during the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Crescent Energy by 134.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after acquiring an additional 2,286 shares during the last quarter. Quarry LP lifted its stake in Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after acquiring an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP grew its position in Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after acquiring an additional 1,401 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.
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.
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