Crescent Energy (NYSE:CRGY) Raised to “Strong Sell” at Seaport Research Partners

Crescent Energy (NYSE:CRGY) was upgraded by research analysts at Seaport Research Partners to a “strong sell” rating in a report issued on Wednesday, MarketBeat.com reports.

CRGY has been the subject of a number of other reports. Weiss Ratings raised shares of Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, August 17th. KeyCorp restated an “overweight” rating and set a $19.00 target price on shares of Crescent Energy in a research note on Thursday, June 11th. Mizuho upped their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Raymond James Financial reiterated a “strong-buy” rating and issued a $19.00 price target on shares of Crescent Energy in a research note on Monday, August 3rd. Finally, Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.92.

Crescent Energy Trading Down 2.4%

Shares of NYSE:CRGY opened at $13.93 on Wednesday. The stock has a 50 day moving average of $11.50 and a 200 day moving average of $11.90. The company has a market cap of $4.60 billion, a PE ratio of -278.54 and a beta of 1.45. Crescent Energy has a 12-month low of $7.68 and a 12-month high of $14.53. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. The business’s revenue was up 55.3% on a year-over-year basis. As a group, equities research analysts expect that Crescent Energy will post 2.07 EPS for the current year.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds have recently modified their holdings of CRGY. Strs Ohio purchased a new position in Crescent Energy during the first quarter valued at $32,000. Fifth Third Bancorp lifted 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 purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Crescent Energy by 134.5% during the 4th 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 last quarter. Quarry LP boosted its holdings in shares of Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after purchasing an additional 1,401 shares in the last quarter. Hedge funds and other 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.