Crescent Energy (NYSE:CRGY) Price Target Raised to $19.00 at KeyCorp

Crescent Energy (NYSE:CRGY) had its price target upped by equities researchers at KeyCorp from $15.00 to $19.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 49.08% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Piper Sandler raised their target price on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Evercore assumed coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price for the company. Weiss Ratings raised shares of Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price objective on shares of Crescent Energy in a research report on Sunday, January 25th. Finally, Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.80.

Crescent Energy Trading Down 5.6%

Shares of NYSE:CRGY opened at $12.75 on Thursday. The business’s 50 day moving average price is $11.09 and its 200-day moving average price is $9.55. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $14.02. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 24.51 and a beta of 1.54. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The company had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. On average, equities research analysts forecast that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors have recently modified their holdings of CRGY. Caitlin John LLC acquired a new position in Crescent Energy in the 3rd quarter valued at about $27,000. Nisa Investment Advisors LLC boosted its position in 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 buying an additional 1,241 shares during the period. Fifth Third Bancorp grew its stake in shares of Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 purchasing an additional 2,286 shares during the period. Finally, Quarry LP increased its holdings in 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. 52.11% of the stock is owned by institutional investors and hedge funds.

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.