Crescent Energy (NYSE:CRGY) Given New $19.00 Price Target at KeyCorp

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

Several other analysts also recently weighed in on CRGY. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Friday, March 20th. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Johnson Rice restated an “accumulate” rating and set a $19.00 target price on shares of Crescent Energy in a research report on Wednesday, March 25th. Zacks Research raised shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Evercore assumed coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $12.75 on Thursday. 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 has a 52 week low of $6.83 and a 52 week high of $14.02. The firm’s 50 day moving average is $11.09 and its two-hundred day moving average is $9.55. The firm has a market capitalization of $4.18 billion, a P/E ratio of 24.51 and a beta of 1.54.

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, beating the consensus estimate of $0.30 by $0.19. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. The business had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Research analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Crescent Energy

Several institutional investors have recently bought and sold shares of CRGY. McAlvany Wealth Management LLC acquired a new stake in shares of Crescent Energy in the 4th quarter worth $1,130,000. Corient Private Wealth LLC lifted its position in Crescent Energy by 62.6% in the fourth quarter. Corient Private Wealth LLC now owns 28,731 shares of the company’s stock valued at $241,000 after purchasing an additional 11,063 shares during the period. Alpine Global Management LLC acquired a new stake in Crescent Energy in the fourth quarter valued at about $183,000. MidFirst Bank purchased a new stake in Crescent Energy in the 4th quarter valued at approximately $232,000. Finally, Sunbelt Securities Inc. increased its position in Crescent Energy by 9.7% during the 4th quarter. Sunbelt Securities Inc. now owns 150,343 shares of the company’s stock worth $1,261,000 after purchasing an additional 13,344 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.