Pickering Energy Partners Begins Coverage on Crescent Energy (NYSE:CRGY)

Equities researchers at Pickering Energy Partners initiated coverage on shares of Crescent Energy (NYSE:CRGY) in a research report issued to clients and investors on Monday, StockNewsAPI reports. The brokerage set an “outperform” rating on the stock.

CRGY has been the topic of a number of other research reports. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Truist Financial decreased their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a report on Monday, September 30th. Evercore ISI reiterated an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Wells Fargo & Company decreased their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $16.10.

Crescent Energy Price Performance

Shares of CRGY opened at $12.30 on Monday. The firm has a market cap of $2.18 billion, a PE ratio of -61.50 and a beta of 2.19. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The business’s 50 day moving average price is $11.71 and its two-hundred day moving average price is $11.74.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $653.28 million for the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. On average, equities analysts anticipate that Crescent Energy will post 1.27 EPS for the current year.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of Crescent Energy stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the acquisition, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 12,294 shares of company stock worth $131,297. 13.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds have recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC raised its holdings in shares of Crescent Energy by 1.0% in the 2nd quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after purchasing an additional 883 shares during the period. ProShare Advisors LLC lifted its position in shares of Crescent Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after buying an additional 1,085 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of Crescent Energy by 5.1% during the 1st quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock worth $366,000 after acquiring an additional 1,503 shares during the period. CWM LLC increased its holdings in Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring an additional 1,832 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Crescent Energy in the 2nd quarter valued at about $32,000. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.