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Stock impact report

Crescent Energy (CRGY) Price Target Cut by Piper Sandler [Yahoo! Finance]

Crescent Energy Company (CRGY) 
Company Research Source: Yahoo! Finance
Crescent Energy (CRGY) Price Target Cut by Piper Sandler Crescent Energy Company (NYSE:CRGY) engages in the exploration and production of crude oil, natural gas, and natural gas liquids in the United States, with activities focused in Texas and the Rocky Mountain region. Crescent Energy Company (NYSE:CRGY) faced a target revision on November 18 when Piper Sandler analyst Mark Lear lowered the stock's price target from $15 to $13, while keeping an ‘Overweight' rating on its shares. The change forms part of the analyst firm updating its exploration and production models following the Q3 reports. While the sector posted encouraging results, the analyst believes that the oil macro environment ‘still doesn't feel great'. It is worth noting that Crescent Energy Company (NYSE:CRGY) gained over 20% earlier this month after posting results for its third quarter, with the company's adjusted EPS of $0.35 topping expectations by $0.04. Revenue also grew by 16.3% YoY to $866 million. Moreov Show less Read more
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