Now Is A Suitable Moment For A Long-Term Purchase Of Crescent Energy Co. (NYSE: CRGY)

Currently, there are 111.52M common shares owned by the public and among those 101.28M shares have been available to trade.

The company’s stock has a 5-day price change of -2.26% and 9.98% over the past three months. CRGY shares are trading -8.25% year to date (YTD), with the 12-month market performance up to 7.35% higher. It has a 12-month low price of $10.11 and touched a high of $14.22 over the same period. CRGY has an average intraday trading volume of 2.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.26%, -0.38%, and 4.05% respectively.

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Institutional ownership of Crescent Energy Co. (NYSE: CRGY) shares accounts for 68.19% of the company’s 111.52M shares outstanding.

It has a market capitalization of $1.35B and a beta (3y monthly) value of 1.16. The earnings-per-share (ttm) stands at -$0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.05% over the week and 2.34% over the month.

Earnings per share for the fiscal year are expected to decrease by -17.29%, and 46.20% over the next financial year.

Looking at the support for the CRGY, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on July 18, 2024, with the firm’s price target at $16. KeyBanc Capital Markets coverage for the Crescent Energy Co. (CRGY) stock in a research note released on June 27, 2024 offered a Overweight rating with a price target of $16. Tudor Pickering Holt & Co. was of a view on April 10, 2024 that the stock is Buy, while Mizuho gave the stock Neutral rating on January 03, 2024, issuing a price target of $18- $14. Raymond James on their part issued Strong Buy rating on December 05, 2023.

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