Piper Sandler Raises Crescent Energy (CRGY) PT to $15, Cites Strong Q1 Performance

Crescent Energy Company (NYSE:CRGY) is one of the stocks under $10 to buy now. On July 17, Piper Sandler analyst Mark Lear increased the price target for Crescent Energy from $14 to $15, while maintaining an Overweight rating on the shares. The adjustment came as the firm updated its outlook for the alternative energy sector.

In Q1 2025, Crescent Energy reported exceeding $240 million in free cash flow for the quarter, equating to an annualized free cash flow yield of ~45%. Production reached a record 258,000 barrels of oil equivalent per day. Adjusted EBITDA for the quarter was ~$530 million. Crescent Energy exited the quarter with a net leverage of 1.5x and ~$1.4 billion in liquidity, with no near-term maturities.

Piper Sandler Raises Crescent Energy (CRGY) PT to $15, Cites Strong Q1 Performance

Oil and natural gas pumps glowing in the sunrise, symbolic of the company’s power.

The company has maintained a consistent strategy for over a decade, focusing on substantial free cash flow generation through a less capital-intensive business model. The successful closure and integration of the Ridgemar acquisition added high-margin production and a significant low-risk inventory.

Crescent Energy Company is an energy company that engages in the exploration and production of crude oil, natural gas, and natural gas liquids in the US.

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This article is originally published at Insider Monkey.