Comprehensive Stock Comparison
Compare Empire Petroleum Corporation (EP) vs California Resources Corporation (CRC) vs Crescent Energy Company (CRGY) vs Mach Natural Resources LP (MNR) vs TXO Partners, L.P. (TXO) 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 25.0x) |
| Quality / Margins | MNR | 28.5% net margin vs EP's -46.5% |
| Stability / Safety | TXO | Beta 0.46 vs EP's 1.74 |
| Dividends | MNR | 24.4% yield, 1-year raise streak, vs TXO's 18.9% |
| Momentum (1Y) | CRC | +35.4% vs EP's -52.2% |
| Efficiency (ROA) | MNR | 7.7% ROA vs EP's -14.1%, ROIC 11.7% vs -19.3% |
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
Empire Petroleum Corporation is an independent oil and gas exploration and production company focused on acquiring and developing mature producing assets. It generates revenue primarily from oil sales (roughly 60% of revenue) and natural gas sales (roughly 40%), with production concentrated in the Permian Basin and other established U.S. basins. The company's competitive advantage lies in its operational expertise in revitalizing underdeveloped assets and its low-cost structure relative to larger peers.
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.
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.
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.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
CRGY leads in 1 of 6 categories (Valuation Metrics). CRC leads in 1 (Total Returns). 4 tied.
Financial Metrics (TTM)
CRGY is the larger business by revenue, generating $3.6B annually — 96.1x EP's $37M. MNR is the more profitable business, keeping 28.5% of every revenue dollar as net income compared to EP's -46.5%. On growth, TXO holds the edge at +46.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EPEmpire Petroleum … | CRCCalifornia Resour… | CRGYCrescent Energy C… | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $37M | $3.5B | $3.6B | $1.0B | $364M |
| EBITDAEarnings before interest/tax | -$5M | $1.4B | $1.4B | $559M | $95M |
| Net IncomeAfter-tax profit | -$17M | $384M | $133M | $292M | $17M |
| Free Cash FlowCash after capex | -$15M | $545M | $104M | $220M | -$146M |
| Gross MarginGross profit ÷ Revenue | +47.7% | +37.9% | +88.6% | +40.2% | +35.3% |
| Operating MarginEBIT ÷ Revenue | -43.9% | +21.2% | +6.4% | +19.8% | +0.5% |
| Net MarginNet income ÷ Revenue | -46.5% | +10.9% | +3.7% | +28.5% | +4.6% |
| FCF MarginFCF ÷ Revenue | -40.7% | +15.4% | +2.9% | +21.5% | -40.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -13.9% | -11.9% | -1.2% | +6.7% | +46.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +8.3% | -79.9% | +98.2% | -140.0% | — |
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 | EPEmpire Petroleum … | CRCCalifornia Resour… | CRGYCrescent Energy C… | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|---|---|---|
| Market CapShares × price | $113M | $5.36T | $3.8B | $2.2B | $686M |
| Enterprise ValueMkt cap + debt − cash | $123M | $5.36T | $9.4B | $2.9B | $836M |
| Trailing P/EPrice ÷ TTM EPS | -6.11x | 12.74x | 21.59x | 6.85x | 19.26x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 45.26x | 9.17x | 12.91x | 25.04x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | 4761.27x | 6.70x | 5.08x | 14.62x |
| Price / SalesMarket cap ÷ Revenue | 2.57x | 1812.76x | 1.07x | 2.26x | 2.43x |
| Price / BookPrice ÷ Book value/share | 1.58x | 1.35x | 0.55x | 1.06x | 0.74x |
| Price / FCFMarket cap ÷ FCF | — | 9999.00x | 2.28x | 7.69x | — |
Profitability & Efficiency
MNR delivers a 14.8% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $-32 for EP. EP carries lower financial leverage with a 0.19x 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 | EPEmpire Petroleum … | CRCCalifornia Resour… | CRGYCrescent Energy C… | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -32.3% | +11.2% | +2.6% | +14.8% | +2.3% |
| ROA (TTM)Return on assets | -14.1% | +5.7% | +2.6% | +7.7% | +1.2% |
| ROICReturn on invested capital | -19.3% | +14.5% | +1.9% | +11.7% | -0.8% |
| ROCEReturn on capital employed | -16.1% | +13.7% | +3.7% | +14.5% | -0.8% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 | 6 | 5 | 4 |
| Debt / EquityFinancial leverage | 0.19x | 0.35x | 1.07x | 0.64x | 0.26x |
| Net DebtTotal debt minus cash | $10M | $851M | $5.5B | $660M | $150M |
| Cash & Equiv.Liquid assets | $2M | $372M | $290,000 | $106M | $7M |
| Total DebtShort + long-term debt | $12M | $1.2B | $5.5B | $766M | $157M |
| Interest CoverageEBIT ÷ Interest expense | -12.46x | 5.95x | 2.92x | 2.60x | 2.16x |
Total Returns (with DRIP)
A $10,000 investment in CRC five years ago would be worth $24,361 today (with dividends reinvested), compared to $8,193 for CRGY. Over the past 12 months, CRC leads with a +35.4% total return vs EP's -52.2%. The 3-year compound annual growth rate (CAGR) favors CRC at 14.3% vs EP's -36.7% — a key indicator of consistent wealth creation.
| Metric | EPEmpire Petroleum … | CRCCalifornia Resour… | CRGYCrescent Energy C… | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +8.6% | +26.8% | +37.0% | +20.4% | +13.9% |
| 1-Year ReturnPast 12 months | -52.2% | +35.4% | -3.8% | +0.9% | -25.5% |
| 3-Year ReturnCumulative with dividends | -74.6% | +49.2% | +14.0% | +1.9% | -23.6% |
| 5-Year ReturnCumulative with dividends | +106.3% | +143.6% | -18.1% | +1.9% | -16.3% |
| 10-Year ReturnCumulative with dividends | +1078.6% | +1037.4% | -18.1% | +1.9% | -16.3% |
| CAGR (3Y)Annualised 3-year return | -36.7% | +14.3% | +4.4% | +0.6% | -8.6% |
Risk & Volatility
TXO is the less volatile stock with a 0.46 beta — it tends to amplify market swings less than EP's 1.74 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CRC currently trades 98.0% from its 52-week high vs EP's 47.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | EPEmpire Petroleum … | CRCCalifornia Resour… | CRGYCrescent Energy C… | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.74x | 1.26x | 1.74x | 0.68x | 0.46x |
| 52-Week HighHighest price in past year | $6.90 | $60.03 | $12.85 | $15.91 | $20.24 |
| 52-Week LowLowest price in past year | $2.77 | $30.97 | $6.83 | $10.46 | $10.12 |
| % of 52W HighCurrent price vs 52-week peak | +47.8% | +98.0% | +90.7% | +81.8% | +61.9% |
| RSI (14)Momentum oscillator 0–100 | 51.2 | 61.0 | 64.1 | 55.4 | 60.2 |
| Avg Volume (50D)Average daily shares traded | 44K | 696K | 4.8M | 295K | 192K |
Analyst Outlook
Analyst consensus: CRC as "Buy", CRGY as "Buy", MNR as "Buy", TXO as "Strong Buy". 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 | EPEmpire Petroleum … | CRCCalifornia Resour… | CRGYCrescent Energy C… | MNRMach Natural Reso… | TXOTXO Partners, L.P. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Buy | Buy | Strong Buy |
| Price TargetConsensus 12-month target | — | $65.71 | $11.00 | $19.00 | $18.50 |
| # AnalystsCovering analysts | — | 23 | 11 | 15 | 2 |
| Dividend YieldAnnual dividend ÷ price | — | +2.4% | +4.0% | +24.4% | +18.9% |
| Dividend StreakConsecutive years of raises | — | 3 | 3 | 1 | 5 |
| Dividend / ShareAnnual DPS | — | $1.39 | $0.47 | $3.17 | $2.36 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% | +0.9% | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 23 | Feb 26 | Change |
|---|---|---|---|
| Empire Petroleum Co… (EP) | 100 | 35.3 | -64.7% |
| California Resource… (CRC) | 100 | 101.09 | +1.1% |
| Crescent Energy Com… (CRGY) | 100 | 78.06 | -21.9% |
| Mach Natural Resour… (MNR) | 99.78 | 63.36 | -36.5% |
| TXO Partners, L.P. (TXO) | 100 | 60.78 | -39.2% |
California Resource… (CRC) returned +144% over 5 years vs Crescent Energy Com… (CRGY)'s -18%. A $10,000 investment in CRC 5 years ago would be worth $24,361 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Empire Petroleum Co… (EP) | $0.00 | $44M | — |
| California Resource… (CRC) | $1.8B | $3.0B | +68.7% |
| Crescent Energy Com… (CRGY) | $1.1B | $3.6B | +229.3% |
| Mach Natural Resour… (MNR) | $392M | $970M | +147.0% |
| TXO Partners, L.P. (TXO) | $109M | $283M | +160.0% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Empire Petroleum Co… (EP) | -2.9% | -36.8% | -1174.4% |
| California Resource… (CRC) | 15.9% | 12.7% | -20.1% |
| Crescent Energy Com… (CRGY) | -1.3% | 3.7% | +383.0% |
| Mach Natural Resour… (MNR) | 35.3% | 19.1% | -45.8% |
| TXO Partners, L.P. (TXO) | -150.1% | 8.3% | +105.5% |
Chart 4P/E Ratio History — 7 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| California Resource… (CRC) | 2.5 | 11.2 | +348.0% |
| Crescent Energy Com… (CRGY) | 5.4 | 15.5 | +187.0% |
California Resources Corporation has traded in a 1x–11x P/E range over 6 years; current trailing P/E is ~13x. Crescent Energy Company has traded in a 5x–29x P/E range over 3 years; current trailing P/E is ~22x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Empire Petroleum Co… (EP) | -0.18 | -0.54 | -200.0% |
| California Resource… (CRC) | 6.76 | 4.62 | -31.7% |
| Crescent Energy Com… (CRGY) | 0 | 0.54 | — |
| Mach Natural Resour… (MNR) | 1.46 | 1.9 | +30.1% |
| TXO Partners, L.P. (TXO) | -6.53 | 0.65 | +110.0% |
Chart 6Free Cash Flow — 5 Years
Empire Petroleum Corporation generated $-48M FCF in 2024 (-185% vs 2021). California Resources Corporation generated $350M FCF in 2024 (-25% vs 2021).
EP vs CRC vs CRGY vs MNR vs TXO: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is EP or CRC or CRGY or MNR or TXO 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 — EP or CRC or CRGY or MNR or TXO?
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 — EP or CRC or CRGY or MNR or TXO?
Over the past 5 years, California Resources Corporation (CRC) delivered a total return of +143.6%, compared to -18.1% for Crescent Energy Company (CRGY). A $10,000 investment in CRC five years ago would be worth approximately $24K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EP returned +1079% 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 — EP or CRC or CRGY or MNR or TXO?
By beta (market sensitivity over 5 years), TXO Partners, L.P. (TXO) is the lower-risk stock at 0.46β versus Empire Petroleum Corporation's 1.74β — meaning EP is approximately 276% more volatile than TXO relative to the S&P 500. On balance sheet safety, Empire Petroleum Corporation (EP) carries a lower debt/equity ratio of 19% versus 107% for Crescent Energy Company — giving it more financial flexibility in a downturn.
05Which has better profit margins — EP or CRC or CRGY or MNR or TXO?
Mach Natural Resources LP (MNR) is the more profitable company, earning 19.1% net margin versus -36.8% for Empire Petroleum Corporation — meaning it keeps 19.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MNR leads at 30.0% versus -31.0% for EP. 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 EP or CRC or CRGY or MNR or TXO 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 — EP or CRC or CRGY or MNR or TXO?
In this comparison, MNR (24.4% yield), TXO (18.9% yield), CRGY (4.0% yield), CRC (2.4% yield) pay a dividend. EP does not pay a meaningful dividend and should not be held primarily for income.
08Is EP or CRC or CRGY or MNR or TXO 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 EP and CRC and CRGY and MNR and TXO?
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: EP is a small-cap quality compounder stock; CRC is a mega-cap deep-value stock; CRGY is a small-cap income-oriented stock; MNR is a small-cap deep-value stock; TXO is a small-cap income-oriented stock. CRC, CRGY, MNR, TXO pay a dividend while EP does not, making them suitable for different income and tax situations. 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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