Comprehensive Stock Comparison
Compare Crescent Energy Company (CRGY) vs California Resources Corporation (CRC) vs Mach Natural Resources LP (MNR) vs TXO Partners, L.P. (TXO) vs SandRidge Energy, Inc. (SD) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | MNR | 27.2% revenue growth vs TXO's -25.7% |
| Value | CRGY | Lower P/E (9.2x vs 10.4x) |
| Quality / Margins | SD | 42.4% net margin vs CRGY's 3.7% |
| Stability / Safety | TXO | Beta 0.46 vs CRGY's 1.74, lower leverage |
| Dividends | MNR | 24.4% yield, 1-year raise streak, vs TXO's 18.9% |
| Momentum (1Y) | SD | +53.8% vs TXO's -25.5% |
| Efficiency (ROA) | SD | 10.7% ROA vs TXO's 1.2%, ROIC 8.6% vs -0.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Crescent Energy is an independent oil and gas exploration and production company operating across multiple U.S. basins. It generates revenue primarily from selling crude oil, natural gas, and natural gas liquids produced from its portfolio of assets in proven regions like the Eagle Ford, Permian, and Rockies. The company's competitive advantage lies in its large inventory of undrilled locations—over 1,500 gross locations—providing years of low-risk development opportunities.
California Resources Corporation is an independent oil and natural gas exploration and production company focused exclusively on California. It generates revenue primarily from crude oil sales (~60%), natural gas and natural gas liquids (~25%), and electricity generation from its cogeneration facilities (~15%). The company's key advantage is its extensive mineral acreage position—approximately 1.9 million net acres—in a mature, high-barrier-to-entry California market with established infrastructure.
Mach Natural Resources is an independent oil and gas company that acquires, develops, and produces oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region. It makes money primarily from the sale of produced hydrocarbons — oil, natural gas, and NGLs — with revenue mix depending on commodity prices and production volumes. The company's competitive advantage lies in its strategic focus on the prolific Anadarko Basin and its operational expertise in developing these specific assets.
TXO Partners is a conventional oil and gas partnership that acquires, develops, and exploits mature producing properties in North American basins. It generates revenue primarily from oil and natural gas liquids production — roughly 60% from oil and 40% from natural gas — through its working interests in established fields like the San Juan and Permian Basins. The partnership's competitive advantage lies in its focus on low-decline, conventional assets with predictable cash flows and its operational expertise in optimizing mature fields.
SandRidge Energy is an independent oil and natural gas exploration and production company focused on the Mid-Continent region of the United States. It generates revenue primarily from the sale of oil and natural gas production — with oil contributing roughly 60% and natural gas around 40% of total revenue — derived from its operated wells in Oklahoma and Kansas. The company's competitive advantage lies in its low-cost operating structure and concentrated acreage position in mature, predictable basins that enable efficient development.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
SD leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). CRGY leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
CRGY is the larger business by revenue, generating $3.6B annually — 23.0x SD's $156M. SD is the more profitable business, keeping 42.4% of every revenue dollar as net income compared to CRGY's 3.7%. On growth, TXO holds the edge at +46.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CRGYCrescent Energy C… | CRCCalifornia Resour… | MNRMach Natural Reso… | TXOTXO Partners, L.P. | SDSandRidge Energy,… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $3.6B | $3.5B | $1.0B | $364M | $156M |
| EBITDAEarnings before interest/tax | $1.4B | $1.4B | $559M | $95M | $98M |
| Net IncomeAfter-tax profit | $133M | $384M | $292M | $17M | $66M |
| Free Cash FlowCash after capex | $104M | $545M | $220M | -$146M | $38M |
| Gross MarginGross profit ÷ Revenue | +88.6% | +37.9% | +40.2% | +35.3% | +49.3% |
| Operating MarginEBIT ÷ Revenue | +6.4% | +21.2% | +19.8% | +0.5% | +35.8% |
| Net MarginNet income ÷ Revenue | +3.7% | +10.9% | +28.5% | +4.6% | +42.4% |
| FCF MarginFCF ÷ Revenue | +2.9% | +15.4% | +21.5% | -40.1% | +24.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.2% | -11.9% | +6.7% | +46.8% | +32.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +98.2% | -79.9% | -140.0% | — | -37.7% |
Valuation Metrics
At 6.9x trailing earnings, MNR trades at a 68% valuation discount to CRGY's 21.6x P/E. On an enterprise value basis, MNR's 5.1x EV/EBITDA is more attractive than CRC's 4761.3x.
| Metric | CRGYCrescent Energy C… | CRCCalifornia Resour… | MNRMach Natural Reso… | TXOTXO Partners, L.P. | SDSandRidge Energy,… |
|---|---|---|---|---|---|
| Market CapShares × price | $3.8B | $5.36T | $2.2B | $686M | $645M |
| Enterprise ValueMkt cap + debt − cash | $9.4B | $5.36T | $2.9B | $836M | $547M |
| Trailing P/EPrice ÷ TTM EPS | 21.59x | 12.74x | 6.85x | 19.26x | 10.37x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.17x | 45.26x | 12.91x | 25.04x | 10.37x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 6.70x | 4761.27x | 5.08x | 14.62x | 8.32x |
| Price / SalesMarket cap ÷ Revenue | 1.07x | 1812.76x | 2.26x | 2.43x | 5.15x |
| Price / BookPrice ÷ Book value/share | 0.55x | 1.35x | 1.06x | 0.74x | 1.42x |
| Price / FCFMarket cap ÷ FCF | 2.28x | 9999.00x | 7.69x | — | 13.57x |
Profitability & Efficiency
MNR delivers a 14.8% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $2 for TXO. TXO carries lower financial leverage with a 0.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to CRGY's 1.07x. On the Piotroski fundamental quality scale (0–9), CRGY scores 6/9 vs CRC's 3/9, reflecting solid financial health.
| Metric | CRGYCrescent Energy C… | CRCCalifornia Resour… | MNRMach Natural Reso… | TXOTXO Partners, L.P. | SDSandRidge Energy,… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +2.6% | +11.2% | +14.8% | +2.3% | +13.4% |
| ROA (TTM)Return on assets | +2.6% | +5.7% | +7.7% | +1.2% | +10.7% |
| ROICReturn on invested capital | +1.9% | +14.5% | +11.7% | -0.8% | +8.6% |
| ROCEReturn on capital employed | +3.7% | +13.7% | +14.5% | -0.8% | +6.4% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 | 5 | 4 | 4 |
| Debt / EquityFinancial leverage | 1.07x | 0.35x | 0.64x | 0.26x | — |
| Net DebtTotal debt minus cash | $5.5B | $851M | $660M | $150M | -$98M |
| Cash & Equiv.Liquid assets | $290,000 | $372M | $106M | $7M | $98M |
| Total DebtShort + long-term debt | $5.5B | $1.2B | $766M | $157M | $0 |
| Interest CoverageEBIT ÷ Interest expense | 2.92x | 5.95x | 2.60x | 2.16x | 69.60x |
Total Returns (with DRIP)
A $10,000 investment in SD five years ago would be worth $43,649 today (with dividends reinvested), compared to $8,193 for CRGY. Over the past 12 months, SD leads with a +53.8% total return vs TXO's -25.5%. The 3-year compound annual growth rate (CAGR) favors SD at 14.9% vs TXO's -8.6% — a key indicator of consistent wealth creation.
| Metric | CRGYCrescent Energy C… | CRCCalifornia Resour… | MNRMach Natural Reso… | TXOTXO Partners, L.P. | SDSandRidge Energy,… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +37.0% | +26.8% | +20.4% | +13.9% | +18.6% |
| 1-Year ReturnPast 12 months | -3.8% | +35.4% | +0.9% | -25.5% | +53.8% |
| 3-Year ReturnCumulative with dividends | +14.0% | +49.2% | +1.9% | -23.6% | +51.7% |
| 5-Year ReturnCumulative with dividends | -18.1% | +143.6% | +1.9% | -16.3% | +336.5% |
| 10-Year ReturnCumulative with dividends | -18.1% | +1037.4% | +1.9% | -16.3% | +13.5% |
| CAGR (3Y)Annualised 3-year return | +4.4% | +14.3% | +0.6% | -8.6% | +14.9% |
Risk & Volatility
TXO is the less volatile stock with a 0.46 beta — it tends to amplify market swings less than CRGY's 1.74 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SD currently trades 98.1% from its 52-week high vs TXO's 61.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CRGYCrescent Energy C… | CRCCalifornia Resour… | MNRMach Natural Reso… | TXOTXO Partners, L.P. | SDSandRidge Energy,… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.74x | 1.26x | 0.68x | 0.46x | 0.86x |
| 52-Week HighHighest price in past year | $12.85 | $60.03 | $15.91 | $20.24 | $17.87 |
| 52-Week LowLowest price in past year | $6.83 | $30.97 | $10.46 | $10.12 | $8.81 |
| % of 52W HighCurrent price vs 52-week peak | +90.7% | +98.0% | +81.8% | +61.9% | +98.1% |
| RSI (14)Momentum oscillator 0–100 | 64.1 | 61.0 | 55.4 | 60.2 | 58.0 |
| Avg Volume (50D)Average daily shares traded | 4.8M | 696K | 295K | 192K | 252K |
Analyst Outlook
Analyst consensus: CRGY as "Buy", CRC as "Buy", MNR as "Buy", TXO as "Strong Buy", SD as "Hold". Consensus price targets imply 47.8% upside for TXO (target: $19) vs -5.7% for CRGY (target: $11). For income investors, MNR offers the higher dividend yield at 24.36% vs CRC's 2.36%.
| Metric | CRGYCrescent Energy C… | CRCCalifornia Resour… | MNRMach Natural Reso… | TXOTXO Partners, L.P. | SDSandRidge Energy,… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Strong Buy | Hold |
| Price TargetConsensus 12-month target | $11.00 | $65.71 | $19.00 | $18.50 | — |
| # AnalystsCovering analysts | 11 | 23 | 15 | 2 | 23 |
| Dividend YieldAnnual dividend ÷ price | +4.0% | +2.4% | +24.4% | +18.9% | +11.1% |
| Dividend StreakConsecutive years of raises | 3 | 3 | 1 | 5 | 2 |
| Dividend / ShareAnnual DPS | $0.47 | $1.39 | $3.17 | $2.36 | $1.95 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.9% | +0.0% | 0.0% | 0.0% | +0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 23 | Feb 26 | Change |
|---|---|---|---|
| Crescent Energy Com… (CRGY) | 100 | 78.06 | -21.9% |
| California Resource… (CRC) | 100 | 101.09 | +1.1% |
| Mach Natural Resour… (MNR) | 99.78 | 63.36 | -36.5% |
| TXO Partners, L.P. (TXO) | 100 | 60.78 | -39.2% |
| SandRidge Energy, I… (SD) | 100 | 99.31 | -0.7% |
SandRidge Energy, I… (SD) returned +336% over 5 years vs Crescent Energy Com… (CRGY)'s -18%. A $10,000 investment in SD 5 years ago would be worth $43,649 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Crescent Energy Com… (CRGY) | $1.1B | $3.6B | +229.3% |
| California Resource… (CRC) | $1.8B | $3.0B | +68.7% |
| Mach Natural Resour… (MNR) | $392M | $970M | +147.0% |
| TXO Partners, L.P. (TXO) | $109M | $283M | +160.0% |
| SandRidge Energy, I… (SD) | $769M | $125M | -83.7% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Crescent Energy Com… (CRGY) | -1.3% | 3.7% | +383.0% |
| California Resource… (CRC) | 15.9% | 12.7% | -20.1% |
| Mach Natural Resour… (MNR) | 35.3% | 19.1% | -45.8% |
| TXO Partners, L.P. (TXO) | -150.1% | 8.3% | +105.5% |
| SandRidge Energy, I… (SD) | -4.8% | 50.3% | +1145.1% |
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Crescent Energy Com… (CRGY) | 5.4 | 15.5 | +187.0% |
| California Resource… (CRC) | 2.5 | 11.2 | +348.0% |
| SandRidge Energy, I… (SD) | 14.6 | 6.9 | -52.7% |
Crescent Energy Company has traded in a 5x–29x P/E range over 3 years; current trailing P/E is ~22x. California Resources Corporation has traded in a 1x–11x P/E range over 6 years; current trailing P/E is ~13x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Crescent Energy Com… (CRGY) | 0 | 0.54 | — |
| California Resource… (CRC) | 6.76 | 4.62 | -31.7% |
| Mach Natural Resour… (MNR) | 1.46 | 1.9 | +30.1% |
| TXO Partners, L.P. (TXO) | -6.53 | 0.65 | +110.0% |
| SandRidge Energy, I… (SD) | -7.08 | 1.69 | +123.9% |
Chart 6Free Cash Flow — 5 Years
Crescent Energy Company generated $2B FCF in 2025 (+4576% vs 2021). California Resources Corporation generated $350M FCF in 2024 (-25% vs 2021).
CRGY vs CRC vs MNR vs TXO vs SD: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is CRGY or CRC or MNR or TXO or SD a better buy right now?
Mach Natural Resources LP (MNR) offers the better valuation at 6.9x trailing P/E (12.9x forward), making it the more compelling value choice. Analysts rate TXO Partners, L.P. (TXO) a "Strong Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CRGY or CRC or MNR or TXO or SD?
On trailing P/E, Mach Natural Resources LP (MNR) is the cheapest at 6.9x versus Crescent Energy Company at 21.6x. On forward P/E, Crescent Energy Company is actually cheaper at 9.2x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — CRGY or CRC or MNR or TXO or SD?
Over the past 5 years, SandRidge Energy, Inc. (SD) delivered a total return of +336.5%, compared to -18.1% for Crescent Energy Company (CRGY). A $10,000 investment in SD five years ago would be worth approximately $44K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CRC returned +1037% versus CRGY's -18.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CRGY or CRC or MNR or TXO or SD?
By beta (market sensitivity over 5 years), TXO Partners, L.P. (TXO) is the lower-risk stock at 0.46β versus Crescent Energy Company's 1.74β — meaning CRGY is approximately 276% more volatile than TXO relative to the S&P 500. On balance sheet safety, TXO Partners, L.P. (TXO) carries a lower debt/equity ratio of 26% versus 107% for Crescent Energy Company — giving it more financial flexibility in a downturn.
05Which has better profit margins — CRGY or CRC or MNR or TXO or SD?
SandRidge Energy, Inc. (SD) is the more profitable company, earning 50.3% net margin versus 3.7% for Crescent Energy Company — meaning it keeps 50.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MNR leads at 30.0% versus -2.4% for TXO. At the gross margin level — before operating expenses — CRGY leads at 88.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CRGY or CRC or MNR or TXO or SD more undervalued right now?
On forward earnings alone, Crescent Energy Company (CRGY) trades at 9.2x forward P/E versus 45.3x for California Resources Corporation — 36.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TXO: 47.8% to $18.50.
07Which pays a better dividend — CRGY or CRC or MNR or TXO or SD?
All stocks in this comparison pay dividends. Mach Natural Resources LP (MNR) offers the highest yield at 24.4%, versus 2.4% for California Resources Corporation (CRC).
08Is CRGY or CRC or MNR or TXO or SD better for a retirement portfolio?
For long-horizon retirement investors, TXO Partners, L.P. (TXO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.46), 18.9% yield). Crescent Energy Company (CRGY) carries a higher beta of 1.74 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (TXO: -16.3%, CRGY: -18.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CRGY and CRC and MNR and TXO and SD?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: CRGY is a small-cap income-oriented stock; CRC is a mega-cap deep-value stock; MNR is a small-cap deep-value stock; TXO is a small-cap income-oriented stock; SD is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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