Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Truist Financial Analyst Says

Crescent Energy (NYSE:CRGY) had its target price upped by research analysts at Truist Financial from $19.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s price target would indicate a potential upside of 63.47% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research raised shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Seaport Research Partners began coverage on shares of Crescent Energy in a report on Thursday, September 3rd. They set a “sell” rating and a $12.00 price target for the company. Evercore restated an “outperform” rating on shares of Crescent Energy in a report on Wednesday, October 14th. Weiss Ratings raised Crescent Energy from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Finally, Morgan Stanley downgraded Crescent Energy to an “underweight” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

Crescent Energy Stock Performance

Shares of CRGY stock traded down $0.78 during trading on Wednesday, reaching $12.23. 2,562,917 shares of the company’s stock traded hands, compared to its average volume of 7,367,493. The company has a market capitalization of $5.17 billion, a P/E ratio of -611.14 and a beta of 1.71. Crescent Energy has a 1 year low of $7.68 and a 1 year high of $15.47. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average is $13.60 and its 200 day moving average is $12.01.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.18. Crescent Energy had a return on equity of 13.51% and a net margin of 1.30%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts expect that Crescent Energy will post 2.03 EPS for the current year.

Institutional Investors Weigh In On Crescent Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Kohlberg Kravis Roberts & Co. L.P. boosted its position in shares of Crescent Energy by 7.1% during the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock valued at $386,847,000 after buying an additional 1,897,230 shares during the period. Dimensional Fund Advisors LP grew its holdings in Crescent Energy by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,171,033 shares of the company’s stock worth $177,810,000 after acquiring an additional 298,818 shares in the last quarter. Jennison Associates LLC lifted its holdings in Crescent Energy by 74.1% during the first quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock worth $57,435,000 after buying an additional 1,810,225 shares during the period. Cetera Investment Advisers grew its stake in Crescent Energy by 5.1% in the first quarter. Cetera Investment Advisers now owns 3,341,779 shares of the company’s stock valued at $45,114,000 after purchasing an additional 163,268 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Crescent Energy by 64.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,251,891 shares of the company’s stock worth $41,917,000 after purchasing an additional 1,274,787 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Key Crescent Energy News

Here are the key news stories impacting Crescent Energy this week:

• Positive Sentiment: CRGY reported Q3 earnings of $0.77 per share, versus the $0.59 consensus, and revenue of $1.35 billion, above the $1.24 billion estimate. Earnings were also higher than the $0.35 per share reported a year earlier, supporting the view of improving results. Crescent Energy Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: The company’s Q3 coverage highlights operational efficiencies and portfolio transformation as drivers of results, alongside strong cash flow. This suggests execution and cash generation are helping underpin the earnings beat. CRGY Q3 deep dive
• Positive Sentiment: Crescent declared a quarterly dividend of $0.12 per share ($0.48 annualized), a 3.7% yield according to the report, adding an income component for shareholders. Crescent Energy dividend announcement
• Neutral Sentiment: Crescent confidentially submitted a draft registration statement for a proposed IPO of Crescent Royalties. A listing could provide a way to highlight the subsidiary’s value, but it remains proposed and the articles provide no offering terms or proceeds details. Crescent Energy announces confidential IPO filing for royalty subsidiary
• Neutral Sentiment: Management’s focus is shifting toward integration after portfolio changes. Successful integration could support future performance, while execution remains an item for investors to monitor. CRGY Q3 deep dive

About Crescent Energy

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company’s portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.