Piper Sandler Increases Crescent Energy (NYSE:CRGY) Price Target to $16.00

Crescent Energy (NYSE:CRGY) had its price target upped by investment analysts at Piper Sandler from $14.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 33.39% from the company’s current price.

A number of other brokerages have also weighed in on CRGY. Evercore began coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $9.00 price target on shares of Crescent Energy in a research note on Sunday, January 25th. Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, February 27th. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Wells Fargo & Company decreased their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $12.00 on Thursday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.07 and a beta of 1.57. The stock has a fifty day moving average of $9.89 and a 200 day moving average of $9.20. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $12.40. 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 (NYSE:CRGY) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $884.64 million. As a group, research analysts expect that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Energy

Several hedge funds have recently bought and sold shares of the business. CM Management LLC purchased a new stake in shares of Crescent Energy in the third quarter worth $1,561,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Crescent Energy in the 3rd quarter worth about $1,034,000. Public Sector Pension Investment Board boosted its stake in Crescent Energy by 15.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 724,991 shares of the company’s stock worth $6,467,000 after purchasing an additional 98,428 shares in the last quarter. Kore Advisors LP boosted its stake in Crescent Energy by 17.0% in the 2nd quarter. Kore Advisors LP now owns 1,479,256 shares of the company’s stock worth $12,722,000 after purchasing an additional 214,939 shares in the last quarter. Finally, Capital Fund Management S.A. grew its position in Crescent Energy by 346.3% during the 2nd quarter. Capital Fund Management S.A. now owns 439,593 shares of the company’s stock valued at $3,780,000 after purchasing an additional 341,101 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

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.