Crescent Energy Co. (NYSE: CRGY) – Suitable For Long Term Buy?

Currently, there are 163.12M common shares owned by the public and among those 152.57M shares have been available to trade.

The company’s stock has a 5-day price change of 17.64% and 8.15% over the past three months. CRGY shares are trading -0.53% year to date (YTD), with the 12-month market performance up to 19.02% higher. It has a 12-month low price of $9.88 and touched a high of $13.85 over the same period. CRGY has an average intraday trading volume of 3.55 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 14.28%, 16.57%, and 13.53% respectively.

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Institutional ownership of Crescent Energy Co. (NYSE: CRGY) shares accounts for 58.57% of the company’s 163.12M shares outstanding.

It has a market capitalization of $2.14B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 1476.40, while the earnings-per-share (ttm) stands at $0.01. The company has a PEG of 42.18 and a Quick Ratio of 1.87 with the debt-to-equity ratio at 1.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.34% over the week and 3.29% over the month.

Earnings per share for the fiscal year are expected to decrease by -38.18%, and -9.48% over the next financial year.

Looking at the support for the CRGY, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on September 24, 2024, with the firm’s price target at $17. JP Morgan coverage for the Crescent Energy Co. (CRGY) stock in a research note released on September 18, 2024 offered a Neutral rating with a price target of $12. Wells Fargo was of a view on August 08, 2024 that the stock is Overweight, while Wolfe Research gave the stock Outperform rating on July 18, 2024, issuing a price target of $16. KeyBanc Capital Markets on their part issued Overweight rating on June 27, 2024.

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