Stephens Increases Crescent Energy (NYSE:CRGY) Price Target to $16.00

Crescent Energy (NYSE:CRGY) had its target price upped by research analysts at Stephens from $15.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Stephens’ price objective would indicate a potential upside of 31.90% from the company’s current price.

A number of other equities analysts have also recently commented on CRGY. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Wells Fargo & Company decreased their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Pickering Energy Partners assumed coverage on Crescent Energy in a research note on Monday. They set an “outperform” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Truist Financial lowered their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $15.70.

Crescent Energy Price Performance

NYSE CRGY opened at $12.13 on Monday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $2.15 billion, a P/E ratio of -60.65 and a beta of 2.19. The company has a 50-day moving average price of $11.76 and a 200-day moving average price of $11.74. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Equities research analysts anticipate that Crescent Energy will post 1.27 earnings per share for the current year.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski bought 9,344 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the purchase, the director now owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 12,294 shares of company stock valued at $131,297. 13.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Crescent Energy by 13.9% during the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after purchasing an additional 1,137,367 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Crescent Energy by 444.8% in the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares during the last quarter. Marshall Wace LLP raised its position in shares of Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after buying an additional 2,098,303 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Crescent Energy by 85.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after acquiring an additional 1,226,027 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Crescent Energy by 63.0% in the first quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock worth $18,930,000 after acquiring an additional 614,969 shares in the last quarter. 52.11% of the stock is owned by 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.