Reserves and Production - As of December 31, 2024, the company had 709.3 net MMBoe of proved reserves, with approximately 63% being liquids, reflecting a Standardized Measure of $5.7 billion[80]. - The company’s net proved reserves in the Eagle Ford are 497.2 MMBoe, with production of 38,708 MBoe in 2024[100]. - The company’s net proved reserves in the Rockies are 113.8 MMBoe, with production of 21,479 MBoe in 2024[100]. - As of December 31, 2024, net proved reserves include 297,690 MBbls of oil, 1,595,059 MMcf of natural gas, and 145,716 MBbls of NGLs, totaling 709,251 MBoe, representing a 29.3% increase from 2023[104]. - Average daily production increased to 201 MBoe/d in 2024, up from 149 MBoe/d in 2023, with total production reaching 73,637 MBoe[114]. - The company added 76.5 MMBoe of reserves in place during 2024, primarily due to the SilverBow Merger and the Central Eagle Ford Acquisition[110]. - The company operates a total of 15,540 productive wells as of December 31, 2024, with a working interest of 56%[115]. - The company drilled 297 productive development wells in 2024, an increase of 22.8% from 242 in 2023[122]. Financial Performance - For the year ended December 31, 2024, the company produced 201 net MBoe/d and generated a net loss of $137.7 million, alongside $1,223.1 million in net cash provided by operating activities and $1,598.3 million of Adjusted EBITDAX[80]. - The total revenues for the year ended December 31, 2024, were $2,930,919 thousand, an increase of 23% compared to $2,382,602 thousand in 2023[533]. - Oil revenues reached $2,130,418 thousand, up from $1,750,961 thousand in 2023, reflecting a growth of 22%[533]. - The company reported a net income (loss) from operations of $218,462 thousand, a decrease of 33% from $324,740 thousand in 2023[533]. - Crescent Energy reported a net loss of $137.68 million for the current period, compared to a net income of $321.99 million in the previous period[534]. - The net income attributable to Crescent Energy was $(114.61) million, with a basic and diluted loss per share of $(0.88) compared to earnings of $1.02 and $2.20 in the prior periods[534]. - The company experienced a significant increase in retained earnings, reaching $1.63 billion as of December 31, 2023, up from $720.02 million in 2021[537]. - Crescent Energy's total equity increased to $1.73 billion by the end of 2023, reflecting a growth from $862.29 million in 2022[537]. Cash Flow and Investments - Cash flows from operating activities increased to $1.223 billion in 2024, compared to $935.769 million in 2023, indicating improved operational efficiency[543]. - Crescent Energy's net cash used in investing activities was $1.198 billion in 2024, a decrease from $1.399 billion in 2023, reflecting a more disciplined investment approach[543]. - The company made acquisitions of oil and natural gas properties totaling $558.600 million in 2024, down from $849.254 million in 2023, suggesting a strategic shift in acquisition strategy[543]. - Proceeds from the issuance of Senior Notes increased to $2,074.625 million in 2024 from $984.625 million in 2023, reflecting a significant growth[546]. - The company’s cash and cash equivalents surged to $132,818 thousand in 2024, compared to $2,974 thousand in 2023, indicating a significant increase[528]. Debt and Liabilities - Long-term debt rose significantly to $3,049,255 thousand in 2024, up from $1,694,375 thousand in 2023, representing an increase of 80%[531]. - The total liabilities increased to $4,792,689 thousand in 2024, up from $3,167,617 thousand in 2023, which is a rise of 51%[531]. - Revolving Credit Facility borrowings rose to $3,168.3 million in 2024 from $2,283.8 million in 2023, indicating increased leverage[546]. Regulatory and Environmental Factors - The company is subject to extensive federal, state, and local regulations that can impact operational costs and profitability[143]. - Environmental regulations impose stringent requirements on drilling, production, and waste disposal, which could significantly impact operating costs if they become more stringent[162]. - The EPA's new methane emissions regulations may impose substantial compliance costs and fines for non-compliance[173]. - The company may face increased scrutiny from FERC regarding agreements with affiliated pipelines, which could affect transportation service agreements[156]. - The National Environmental Policy Act requires environmental assessments for major federal actions, which may delay permitting and increase costs for the company[190]. Market and Competitive Landscape - The company faces intense competition in the oil and natural gas industry, competing with larger companies that have greater resources[129]. - The company is exposed to market risk from adverse changes in commodity prices and interest rates, which can significantly impact cash flows[499]. - The company does not believe the loss of any single customer would materially impact its operating results due to the fungibility of oil, natural gas, and NGLs[507]. Employee and Community Engagement - The company employs approximately 987 employees as of December 31, 2024, with no collective bargaining agreements in place[136]. - The company is committed to community engagement and recognizes the link between local communities and business success[142].

Production and Financial Performance - Crescent Energy reported a record fourth quarter production of 255 MBoe/d, with 38% oil and 56% liquids[5]. - For the full year 2024, Crescent reported $1.6 billion in Adjusted EBITDAX and $1.2 billion in Operating Cash Flow, with an average production of 201 MBoe/d, a greater than 30% increase year-over-year[6]. - The company forecasts approximately 30% year-over-year production growth for 2025, with total production guidance of 254 - 264 MBoe/d[7][8]. - Total revenues for Q4 2024 reached $875.3 million, a 33.1% increase from $657.7 million in Q4 2023[19]. - Net income for 2024 was a loss of $137.683 million, a significant decrease from a profit of $321.991 million in 2023[24]. - Net cash provided by operating activities increased to $1.223 billion in 2024, up from $935.769 million in 2023, reflecting improved operational efficiency[24]. - Adjusted EBITDAX for 2024 was $1.598 billion, compared to $1.022 billion in 2023, indicating a 56% year-over-year increase[30]. - Levered Free Cash Flow for 2024 was $630.168 million, up from $310.204 million in 2023, representing a 103% increase[30]. Cash Flow and Liquidity - The company generated $1.2 billion in Operating Cash Flow and $630 million in Levered Free Cash Flow for the fourth quarter[6]. - Cash and cash equivalents rose to $132.8 million in 2024, compared to $2.97 million in 2023, indicating improved liquidity[20]. - Cash, cash equivalents, and restricted cash at the end of the period increased to $240.908 million in 2024, compared to $8.729 million in 2023[24]. - Net cash provided by operating activities for Q4 2024 was $384,434,000, up from $322,869,000 in Q4 2023, representing a 19.1% increase[32]. - Levered Free Cash Flow for Q4 2024 was $259,422,000, compared to $102,451,000 in Q4 2023, indicating a significant increase of 153.5%[32]. Expenses and Liabilities - The company’s total expenses for Q4 2024 were $902.8 million, up from $689.1 million in Q4 2023, marking a 31.0% increase[19]. - Long-term debt increased to $3.05 billion in 2024, compared to $1.69 billion in 2023, reflecting a significant rise in leverage[22]. - The company reported a depreciation, depletion, and amortization expense of $949.480 million in 2024, up from $675.782 million in 2023[24]. - The company’s total liabilities reached $4.79 billion in 2024, compared to $3.17 billion in 2023, indicating increased financial obligations[22]. Shareholder Returns and Dividends - Crescent's Board approved a cash dividend of $0.12 per share for the fourth quarter of 2024, payable on March 26, 2025[9]. - The company utilized approximately 20% of its authorized Share Repurchase Program at a weighted average share price of $10.07 during 2024[10]. - Adjusted Dividends Paid for Q4 2024 totaled $27,396,000, compared to $21,919,000 in Q4 2023, marking an increase of 24.5%[42]. M&A Activity - Crescent executed over $3 billion in accretive M&A transactions in the Eagle Ford region during 2024[5]. General and Administrative Expenses - General and administrative expenses for Q4 2024 were $86,687,000, compared to $34,683,000 in Q4 2023, showing an increase of 149.2%[38]. - Adjusted Recurring Cash G&A for the year ended December 31, 2024, was $92,820,000, up from $82,512,000 in 2023, reflecting a 12.8% increase[38].

Core Insights - Crescent Energy (CRGY) is expected to report quarterly earnings of $0.26 per share, reflecting a year-over-year decline of 55.2% [1] - Revenue is anticipated to reach $890.87 million, which represents a 35.5% increase compared to the same quarter last year [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 1.2%, indicating a collective reassessment by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions to the stock, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [3] Key Metrics Forecast - Analysts project 'Average daily net sales volumes - Natural Gas' to be 650.90 million cubic feet, up from 386 million cubic feet in the previous year [5] - The consensus for 'Average daily net sales volumes - Oil' is 99.69 million barrels, compared to 71 million barrels reported in the same quarter last year [5] - 'Average daily net sales volumes - Natural gas liquids' are forecasted to reach 46.00 million barrels, an increase from 30 million barrels in the prior year [6] Stock Performance - Over the past month, Crescent Energy shares have declined by 10.2%, while the Zacks S&P 500 composite has decreased by 1.8% [7] - Crescent Energy holds a Zacks Rank 2 (Buy), suggesting it is likely to outperform the overall market in the near future [7]

Core Viewpoint - Crescent Energy (CRGY) has experienced a significant decline of 10.8% over the past four weeks, but it is now positioned for a potential trend reversal as it enters oversold territory, with analysts predicting better earnings than previously estimated [1]. Group 1: Stock Performance and Technical Indicators - CRGY's Relative Strength Index (RSI) reading is at 29.73, indicating that the heavy selling pressure may be exhausting, suggesting a possible bounce back towards equilibrium in supply and demand [5]. - Stocks oscillate between overbought and oversold conditions, and the RSI serves as a quick tool to identify potential price reversals [3]. Group 2: Earnings Estimates and Analyst Consensus - There has been a strong consensus among sell-side analysts to raise earnings estimates for CRGY, with a 14.5% increase in the consensus EPS estimate over the last 30 days [6]. - An upward trend in earnings estimate revisions typically correlates with price appreciation in the near term [6]. Group 3: Zacks Rank and Investment Potential - CRGY holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [7].

Core Viewpoint - Crescent Energy (CRGY) is positioned to continue its earnings-beat streak, having surpassed earnings estimates significantly in recent quarters [1][2]. Earnings Performance - In the most recent quarter, Crescent Energy reported earnings of $0.39 per share, exceeding the expected $0.28 per share by 39.29% [2]. - For the previous quarter, the company reported $0.31 per share against an expectation of $0.26 per share, resulting in a surprise of 19.23% [2]. Earnings Estimates and Predictions - Recent estimates for Crescent Energy have been revised upwards, indicating a positive outlook for the company's near-term earnings potential [3]. - The Zacks Earnings ESP for Crescent Energy is currently +9.09%, suggesting analysts are optimistic about the upcoming earnings report [6]. Zacks Rank and Earnings ESP - Crescent Energy holds a Zacks Rank of 2 (Buy), which, when combined with a positive Earnings ESP, indicates a strong likelihood of another earnings beat [6]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have historically produced positive surprises nearly 70% of the time [4]. Importance of Earnings ESP - The Earnings ESP metric is crucial for predicting earnings performance, as it compares the Most Accurate Estimate to the Zacks Consensus Estimate [5]. - A negative Earnings ESP does not necessarily indicate an earnings miss, as many companies can still beat consensus estimates despite a negative value [7].

Core Viewpoint - Crescent Energy's stock performance and upcoming earnings report are critical for investors, with expectations of a significant decline in EPS but an increase in revenue compared to the previous year [2][5]. Group 1: Stock Performance - Crescent Energy's stock closed at $15.45, reflecting a -1.21% change from the previous day, underperforming the S&P 500's 0.53% gain [1]. - Over the past month, Crescent Energy's stock has increased by 7.05%, outperforming the Oils-Energy sector's gain of 5.88% and the S&P 500's gain of 1.24% [1]. Group 2: Earnings Expectations - The anticipated EPS for Crescent Energy is $0.31, indicating a 46.55% decrease compared to the same quarter last year [2]. - Revenue is expected to reach $891.2 million, representing a 35.5% increase from the year-ago quarter [2]. Group 3: Analyst Projections - Recent shifts in analyst projections for Crescent Energy should be monitored, as they reflect short-term business trends and can indicate optimism about the company's outlook [3]. - Positive estimate revisions are seen as a favorable sign for the company's business prospects [3]. Group 4: Zacks Rank and Valuation - Crescent Energy currently holds a Zacks Rank of 2 (Buy), with a 24.01% rise in the Zacks Consensus EPS estimate over the past month [5]. - The company is trading at a Forward P/E ratio of 7.1, significantly lower than the industry average of 20.27, indicating a valuation discount [6]. Group 5: Industry Context - The Alternative Energy - Other industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 38, placing it in the top 16% of over 250 industries [6]. - The Zacks Industry Rank suggests that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7].

Group 1 - Crescent Energy (CRGY) is currently outperforming its Oils-Energy peers with a year-to-date performance of approximately 10.6%, compared to the sector average of 9.5% [4] - Crescent Energy is ranked 7 in the Zacks Sector Rank among 248 companies in the Oils-Energy group, indicating a strong position within the sector [2] - The Zacks Rank for Crescent Energy is 2 (Buy), reflecting a positive earnings outlook and strong analyst sentiment, with a 46.7% increase in the consensus estimate for full-year earnings over the past 90 days [3][4] Group 2 - Crescent Energy is part of the Alternative Energy - Other industry, which has seen an average gain of 86.9% this year, indicating that CRGY is slightly underperforming its industry [6] - Kodiak Gas Services (KGS) is another notable stock in the Oils-Energy sector, with a year-to-date return of 19.6% and a Zacks Rank of 1 (Strong Buy) [5] - The Oil and Gas - Mechanical and Equipment industry, to which Kodiak Gas Services belongs, has experienced a year-to-date increase of 16.9% [6]

Core Viewpoint - Crescent Energy (CRGY) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][2][4] Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5] - Institutional investors often rely on earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [3] Company Performance and Outlook - For the fiscal year ending December 2024, Crescent Energy is expected to earn $1.47 per share, reflecting a decrease of 49.5% from the previous year [7] - However, the Zacks Consensus Estimate for Crescent Energy has increased by 44.9% over the past three months, indicating a positive trend in earnings outlook [7][9] Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [6][8] - Crescent Energy's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [9]

Crescent Energy (CRGY) closed the most recent trading day at $15.73, moving +0.06% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.06%.Heading into today, shares of the oil and gas company had gained 6.43% over the past month, outpacing the Oils-Energy sector's loss of 11.11% and the S&P 500's loss of 2.7% in that time.The investment community will be paying close attention to t ...

Have you been paying attention to shares of Crescent Energy (CRGY) ? Shares have been on the move with the stock up 8% over the past month. The stock hit a new 52-week high of $15.72 in the previous session. Crescent Energy has gained 7.6% since the start of the year compared to the 6% move for the Zacks Oils-Energy sector and the 68.5% return for the Zacks Alternative Energy - Other industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed o ...