Wells Fargo & Company Lowers Crescent Energy (NYSE:CRGY) Price Target to $20.00

by · The Markets Daily

Crescent Energy (NYSE:CRGY – Get Free Report) had its price objective dropped by research analysts at Wells Fargo & Company from $21.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 61.29% from the stock’s previous close.

Several other research analysts have also recently commented on CRGY. KeyCorp started coverage on Crescent Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $16.00 target price for the company. Mizuho lowered their price objective on Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Crescent Energy in a report on Tuesday, August 6th. JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target for the company. Finally, Truist Financial reduced their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.20.

View Our Latest Research Report on Crescent Energy

Crescent Energy Stock Up 11.0 %

Shares of CRGY opened at $12.40 on Tuesday. The company’s 50-day simple moving average is $11.20 and its 200-day simple moving average is $11.60. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $13.85. The stock has a market capitalization of $2.20 billion, a PE ratio of -62.00 and a beta of 2.26.

Crescent Energy (NYSE:CRGY – Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Analysts forecast that Crescent Energy will post 1.5 earnings per share for the current fiscal year.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now directly owns 201,081 shares in the company, valued at $2,135,480.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have bought 12,294 shares of company stock worth $131,297. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of CRGY. CWM LLC increased its stake in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after purchasing an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Crescent Energy in the 2nd quarter valued at about $32,000. Spirit of America Management Corp NY purchased a new stake in Crescent Energy during the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC raised its stake in Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after acquiring an additional 2,934 shares during the last quarter. Finally, Equitec Proprietary Markets LLC acquired a new stake in Crescent Energy during the 2nd quarter worth approximately $107,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

About Crescent Energy

(Get Free Report)

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.

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