Siebert Williams Shank Begins Coverage on Crescent Energy (NYSE:CRGY)

Equities research analysts at Siebert Williams Shank initiated coverage on shares of Crescent Energy (NYSE:CRGY - Get Free Report) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a "buy" rating on the stock.

A number of other brokerages have also recently issued reports on CRGY. Raymond James upped their target price on Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 23rd. Truist Financial raised their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an "outperform" rating on the stock. Mizuho raised their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.50.

Crescent Energy Trading Down 2.9 %

NYSE:CRGY traded down $0.45 during mid-day trading on Monday, hitting $14.65. The company had a trading volume of 3,300,081 shares, compared to its average volume of 2,347,220. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $3.34 billion, a P/E ratio of 23.62 and a beta of 2.16. The business's fifty day moving average is $15.04 and its two-hundred day moving average is $13.16. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The company had revenue of $744.87 million during the quarter, compared to analysts' expectations of $793.88 million. During the same period last year, the business earned $0.35 EPS. As a group, research analysts expect that Crescent Energy will post 0.83 earnings per share for the current year.

Institutional Trading of Crescent Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its position in Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock worth $35,000 after purchasing an additional 3,135 shares during the period. Jones Financial Companies Lllp grew its position in shares of Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after purchasing an additional 2,377 shares during the period. Amalgamated Bank boosted its position in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock worth $54,000 after acquiring an additional 2,272 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after purchasing an additional 1,621 shares during the period. Finally, Zacks Investment Management acquired a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $121,000. Institutional investors and hedge funds own 52.11% of the company's stock.

About Crescent Energy

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.