Crescent Energy Co. [CRGY] stock prices are up 0.63% to $11.18 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CRGY shares have gain 2.85% over the last week, with a monthly amount drifted -0.18%, and not seem to be holding up well over a long-time horizon.
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On 6, March 2024, Crescent Energy Company Announces Pricing of Secondary Public Offering of Common Stock and Agreement to Repurchase OpCo Units. In a post published today on Yahoo Finance, Crescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY) today announced the pricing of an underwritten public offering of 12,000,000 shares of its Class A common stock, par value $0.0001 per share (“common stock”), at a price to the public of $10.50 per share, pursuant to a registration statement on Form S-3 (the “Registration Statement”) filed on March 6, 2024 with the U.S. Securities and Exchange Commission (the “SEC”). The common stock is being offered by Independence Energy Aggregator L.P. (the “Selling Stockholder”), the direct owner of the shares being offered and the entity through which certain unaffiliated limited partners and affiliated entities hold their interests in the Company and its subsidiary Crescent Energy OpCo LLC. The Company will not sell any shares of its common stock in the offering and will not receive any proceeds therefrom. In connection with the offering, the Selling Stockholder also granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the public offering price, less the underwriting discounts and commissions.
From an analyst’s perspective:
Crescent Energy Co. [NYSE: CRGY] stock has seen the most recent analyst activity on January 03, 2024, when Mizuho downgraded its rating to a Neutral and also revised its price target to $14 from $18. Previously, Raymond James started tracking the stock with Strong Buy rating on December 05, 2023, and set its price target to $16. On December 01, 2023, Evercore ISI initiated with a Outperform rating and assigned a price target of $16 on the stock. Stephens started tracking the stock assigning a Overweight rating and suggested a price target of $17 on September 27, 2023. Credit Suisse initiated its recommendation with a Neutral and recommended $14 as its price target on February 14, 2023. BofA Securities downgraded its rating to Underperform for this stock on January 25, 2023, and upped its price target to $14. In a note dated January 10, 2023, Mizuho initiated an Buy rating and provided a target price of $19 on this stock.
The stock price of Crescent Energy Co. [CRGY] has been fluctuating between $9.17 and $14.22 over the past year. Currently, Wall Street analysts expect the stock to reach $17 within the next 12 months. Crescent Energy Co. [NYSE: CRGY] shares were valued at $11.18 at the most recent close of the market. An investor can expect a potential return of 52.06% based on the average CRGY price forecast.
Analyzing the CRGY fundamentals
The Crescent Energy Co. [NYSE:CRGY] reported sales of 2.38B for trailing twelve months, representing a drop of -3.95%. Gross Profit Margin for this corporation currently stands at 0.79% with Operating Profit Margin at 0.14%, Pretax Profit Margin comes in at 0.14%, and Net Profit Margin reading is 0.11%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.19 and Total Capital is 0.05. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.04.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.02 points at the first support level, and at 10.86 for the second support level. However, for the 1st resistance point, the stock is sitting at 11.26, and for the 2nd resistance point, it is at 11.34.
Crescent Energy Co. [CRGY] reported earnings per share of $0.61 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.15/share, meaning a difference of $0.46 and a surprise factor of 306.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.67 per share as compared to estimates of $0.27 per share, a difference of -$0.94 representing a surprise of -348.10%.
Ratios To Look Out For
It’s worth pointing out that Crescent Energy Co. [NYSE:CRGY]’s Current Ratio is 0.82. As well, the Quick Ratio is 0.82, while the Cash Ratio is 0.0. Considering the valuation of this stock, the price to sales ratio is 0.43, the price to book ratio is 0.60 and price to earnings (TTM) ratio is 8.83.
Transactions by insiders
Recent insider trading involved Independence Energy Aggregator, 10% Owner, that happened on Mar 11 ’24 when 13.8 million shares were sold. 10% Owner, KKR Group Partnership L.P. completed a deal on Mar 11 ’24 to sell 13.8 million shares. Meanwhile, Rockecharlie David C. bought 20000.0 shares on Dec 06 ’23.
