Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Crescent Energy (NYSE:CRGY) had its price target increased by equities research analysts at Piper Sandler from $13.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 18.44% from the company’s current price.

CRGY has been the topic of several other reports. Jefferies Financial Group restated a “hold” rating and set a $9.00 target price on shares of Crescent Energy in a research report on Sunday, January 25th. Wall Street Zen downgraded shares of Crescent Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company reduced their price target 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. BMO Capital Markets assumed coverage on Crescent Energy in a research note on Friday, January 9th. They set a “market perform” rating and a $10.00 price target on the stock. Finally, Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Crescent Energy presently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Crescent Energy Stock Performance

NYSE CRGY traded up $0.31 during trading hours on Thursday, hitting $11.82. 5,793,908 shares of the stock were exchanged, compared to its average volume of 7,216,496. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $12.40. The stock has a 50-day moving average of $9.40 and a 200 day moving average of $9.08. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 22.73 and a beta of 1.57. 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 (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. As a group, equities research analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

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