KeyCorp Initiates Coverage on Crescent Energy (NYSE:CRGY)

KeyCorp started coverage on shares of Crescent Energy (NYSE:CRGY) in a research note issued on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $16.00 price target on the stock. KeyCorp’s price objective indicates a potential upside of 35.02% from the company’s previous close.

Several other research firms also recently commented on CRGY. Tudor, Pickering, Holt & Co. initiated coverage on Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective on the stock. Mizuho raised their price target on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Truist Financial raised their price target on Crescent Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Wells Fargo & Company raised their price target on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, March 5th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.56.

Crescent Energy Trading Down 0.7 %

NYSE CRGY opened at $11.85 on Thursday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -59.25 and a beta of 2.20. Crescent Energy has a twelve month low of $9.74 and a twelve month high of $14.22. The business’s fifty day moving average is $11.84 and its 200 day moving average is $11.64. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.28. Crescent Energy had a positive return on equity of 12.90% and a negative net margin of 0.67%. The firm had revenue of $657.47 million during the quarter, compared to analyst estimates of $579.44 million. As a group, sell-side analysts expect that Crescent Energy will post 1.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Energy

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after buying an additional 2,934 shares during the last quarter. Amalgamated Bank grew its position in shares of Crescent Energy by 58.5% during the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after acquiring an additional 2,748 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of Crescent Energy during the 4th quarter valued at $136,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Crescent Energy during the 4th quarter valued at $139,000. Finally, Carson Advisory Inc. bought a new stake in shares of Crescent Energy during the 4th quarter valued at $144,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

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.