Crescent Energy (NYSE:CRGY) Rating Reiterated by Evercore ISI

Crescent Energy (NYSE:CRGY)‘s stock had its “outperform” rating reiterated by investment analysts at Evercore ISI in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $17.00 price objective on the stock. Evercore ISI’s price objective suggests a potential upside of 48.54% from the company’s current price.

A number of other brokerages also recently issued reports on CRGY. Mizuho reduced their price objective on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. KeyCorp began coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price objective on the stock. Stephens restated an “overweight” rating and set a $20.00 target price on shares of Crescent Energy in a research note on Tuesday, August 6th. JPMorgan Chase & Co. began coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Wolfe Research assumed coverage on Crescent Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $16.36.

Crescent Energy Stock Down 2.0 %

Shares of CRGY opened at $11.45 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $2.03 billion, a PE ratio of -57.22 and a beta of 2.26. The firm’s 50 day moving average is $11.28 and its 200-day moving average is $11.59. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. Equities research analysts forecast that Crescent Energy will post 1.5 EPS for the current year.

Insiders Place Their Bets

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $10.62 per share, with a total value of $99,233.28. Following the completion of the purchase, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired 12,294 shares of company stock valued at $131,297 in the last ninety days. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently made changes to their positions in CRGY. Vanguard Group Inc. boosted its holdings in Crescent Energy by 13.9% in the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after acquiring an additional 1,137,367 shares during the last quarter. American Century Companies Inc. increased its position in shares of Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Crescent Energy by 22,968.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after buying an additional 3,642,584 shares during the period. Marshall Wace LLP raised its stake in Crescent Energy by 286.7% during the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after buying an additional 2,098,303 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after buying an additional 1,226,027 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.