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Crescent Energy (CRGY) Flat As Market Gains: What You Should Know

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The latest trading session saw Crescent Energy (CRGY - Free Report) ending at $10.37, denoting no adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.45%. On the other hand, the Dow registered a loss of 0.23%, and the technology-centric Nasdaq increased by 0.84%.

The oil and gas company's stock has dropped by 4.42% in the past month, falling short of the Oils-Energy sector's loss of 2.65% and the S&P 500's gain of 2.54%.

Market participants will be closely following the financial results of Crescent Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.33, reflecting a 5.71% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $763.9 million, reflecting a 18.91% rise from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.60 per share and a revenue of $3 billion, representing changes of -45.02% and +26.09%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Crescent Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Crescent Energy presently features a Zacks Rank of #5 (Strong Sell).

Valuation is also important, so investors should note that Crescent Energy has a Forward P/E ratio of 6.47 right now. This represents a discount compared to its industry's average Forward P/E of 17.06.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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