We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Crescent Energy (CRGY) Soars 5.8%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Crescent Energy (CRGY - Free Report) shares ended the last trading session 5.8% higher at $8.7. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12% loss over the past four weeks.
The surge can be attributed to a favorable commodity price environment and Crescent Energy’s strong presence in Texas and the Rockies. The company is active in the prolific Eagle Ford Basin and the Uinta Basin of the United States. The Eagle Ford Basin supports stable production and a low-risk development inventory and boasts significant growth opportunities. In the Uinta Basin, the company holds 145,000 net acres and has a large inventory of low-risk undeveloped acres across several formations. The company’s multi-basin asset portfolio with low production costs, combined with favourable commodity prices, should drive its profitability.
This oil and gas company is expected to post quarterly earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of -23.1%. Revenues are expected to be $900.88 million, up 20.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Crescent Energy, the consensus EPS estimate for the quarter has been revised 37% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRGY going forward to see if this recent jump can turn into more strength down the road.
Crescent Energy is a member of the Zacks Alternative Energy - Other industry. One other stock in the same industry, Constellation Energy Corporation (CEG - Free Report) , finished the last trading session 6.4% higher at $320. CEG has returned -11.2% over the past month.
For Constellation Energy Corporation, the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $3.08. This represents a change of +12.4% from what the company reported a year ago. Constellation Energy Corporation currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Crescent Energy (CRGY) Soars 5.8%: Is Further Upside Left in the Stock?
Crescent Energy (CRGY - Free Report) shares ended the last trading session 5.8% higher at $8.7. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12% loss over the past four weeks.
The surge can be attributed to a favorable commodity price environment and Crescent Energy’s strong presence in Texas and the Rockies. The company is active in the prolific Eagle Ford Basin and the Uinta Basin of the United States. The Eagle Ford Basin supports stable production and a low-risk development inventory and boasts significant growth opportunities. In the Uinta Basin, the company holds 145,000 net acres and has a large inventory of low-risk undeveloped acres across several formations. The company’s multi-basin asset portfolio with low production costs, combined with favourable commodity prices, should drive its profitability.
This oil and gas company is expected to post quarterly earnings of $0.30 per share in its upcoming report, which represents a year-over-year change of -23.1%. Revenues are expected to be $900.88 million, up 20.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Crescent Energy, the consensus EPS estimate for the quarter has been revised 37% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRGY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Crescent Energy is a member of the Zacks Alternative Energy - Other industry. One other stock in the same industry, Constellation Energy Corporation (CEG - Free Report) , finished the last trading session 6.4% higher at $320. CEG has returned -11.2% over the past month.
For Constellation Energy Corporation, the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to $3.08. This represents a change of +12.4% from what the company reported a year ago. Constellation Energy Corporation currently has a Zacks Rank of #3 (Hold).