Wells Fargo & Company Lowers Crescent Energy (NYSE:CRGY) Price Target to $19.00

Crescent Energy (NYSE:CRGY) had its price target decreased by equities researchers at Wells Fargo & Company from $20.00 to $19.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 53.47% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Evercore ISI reiterated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a report on Tuesday, August 6th. JPMorgan Chase & Co. began coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Truist Financial reduced their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Wolfe Research began coverage on Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Crescent Energy currently has a consensus rating of “Buy” and an average price target of $16.10.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $12.38 on Monday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. The business has a fifty day moving average price of $11.63 and a 200-day moving average price of $11.73. The company has a market capitalization of $2.20 billion, a PE ratio of -61.95 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The firm had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. As a group, equities analysts expect that Crescent Energy will post 1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Duginski acquired 9,344 shares of the stock in a transaction dated Thursday, August 8th. The shares were 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 approximately $2,135,480.22. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have bought 12,294 shares of company stock valued at $131,297. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. purchased a new position in shares of Crescent Energy during the 1st quarter valued at about $2,877,000. Vanguard Group Inc. lifted its holdings in Crescent Energy by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock worth $107,945,000 after purchasing an additional 530,199 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Crescent Energy by 901.7% in the 1st quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock worth $1,198,000 after purchasing an additional 90,630 shares in the last quarter. Moody National Bank Trust Division purchased a new position in Crescent Energy in the 2nd quarter worth approximately $769,000. Finally, Interval Partners LP purchased a new position in Crescent Energy in the 2nd quarter worth approximately $1,835,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

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.