Crescent Energy (NYSE:CRGY) Cut to Moderate Buy at Johnson Rice

Crescent Energy (NYSE:CRGY) was downgraded by equities research analysts at Johnson Rice from a “strong-buy” rating to a “moderate buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on CRGY. Wells Fargo & Company upped their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. raised shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price on the stock in a research note on Friday, March 20th. Zacks Research upgraded shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Mizuho increased their price target on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Weiss Ratings upgraded shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.30.

Crescent Energy Stock Performance

NYSE CRGY opened at $13.52 on Tuesday. The stock’s fifty day moving average is $10.59 and its two-hundred day moving average is $9.38. The firm has a market capitalization of $4.43 billion, a P/E ratio of 25.99 and a beta of 1.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $13.57.

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. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%.The business had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. On average, research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitlin John LLC purchased a new position in Crescent Energy during the third quarter worth about $27,000. Nisa Investment Advisors LLC raised its stake in shares of Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after acquiring an additional 1,241 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Crescent Energy by 109.3% in the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Crescent Energy by 134.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after purchasing an additional 3,123 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.