Crescent Energy (NYSE:CRGY) PT Raised to $21.00 at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price objective raised by Wells Fargo & Company from $20.00 to $21.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 96.08% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Truist Financial reduced their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Wolfe Research assumed coverage on Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price target for the company. Stephens reissued an “overweight” rating and set a $20.00 price target on shares of Crescent Energy in a report on Tuesday, August 6th. Mizuho increased their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, KeyCorp began coverage on shares of Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price target on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.80.

Crescent Energy Price Performance

Shares of CRGY opened at $10.71 on Thursday. 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 company has a market cap of $1.90 billion, a P/E ratio of -53.55 and a beta of 2.26. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85. The stock has a fifty day moving average price of $11.61 and a 200 day moving average price of $11.61.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $653.28 million for 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%. On average, research analysts forecast that Crescent Energy will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael Duginski purchased 9,344 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, with a total value of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders acquired 11,344 shares of company stock worth $120,723. Corporate insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Crescent Energy

Hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new stake in Crescent Energy during the 1st quarter valued at $2,877,000. Vanguard Group Inc. raised its position in Crescent Energy by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after buying an additional 530,199 shares during the period. GSA Capital Partners LLP lifted its stake 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 acquiring an additional 90,630 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Crescent Energy in the 4th quarter worth about $1,393,000. Finally, Moody National Bank Trust Division acquired a new stake in Crescent Energy during the 2nd quarter worth about $769,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

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.