Crescent Energy (NYSE:CRGY) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Crescent Energy (NYSE:CRGY) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $12.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.76% from the stock’s current price.

Several other research firms have also recently issued reports on CRGY. KeyCorp began 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. Wolfe Research started coverage on Crescent Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price target for the company. Mizuho reduced their price objective on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Crescent Energy in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $16.27.

Crescent Energy Trading Up 3.2 %

Shares of CRGY opened at $11.46 on Wednesday. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $13.85. The firm has a market capitalization of $2.03 billion, a P/E ratio of -57.28 and a beta of 2.26. The firm has a 50-day moving average price of $11.37 and a 200 day moving average price of $11.58. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last posted 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. 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%. Sell-side analysts forecast that Crescent Energy will post 1.31 EPS for the current year.

Insider Buying and Selling

In related 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, for a total transaction of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 12,294 shares of company stock valued at $131,297 in the last ninety days. Company insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Crescent Energy by 618.9% in the 2nd 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 last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Crescent Energy in the second quarter valued at approximately $32,000. Spirit of America Management Corp NY acquired a new stake in shares of Crescent Energy in the second quarter valued at approximately $36,000. GAMMA Investing LLC grew its position in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after acquiring an additional 2,934 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Crescent Energy by 58.5% in the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after acquiring an additional 2,748 shares during the period. 52.11% of the stock is owned by institutional investors and hedge funds.

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.