Crescent Energy (NYSE:CRGY) Given New $20.00 Price Target at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price objective lowered by Wells Fargo & Company from $21.00 to $20.00 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on the stock. Wolfe Research began coverage on shares of Crescent Energy in a report on Thursday, July 18th. They set an outperform rating and a $16.00 price objective for the company. KeyCorp began coverage on shares of Crescent Energy in a report on Thursday, June 27th. They set an overweight rating and a $16.00 price objective for the company. Truist Financial dropped their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a buy rating for the company in a report on Monday. Mizuho lowered their price target on shares of Crescent Energy from $14.00 to $13.00 and set a neutral rating for the company in a report on Monday, September 16th. Finally, Evercore ISI reaffirmed an outperform rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of Buy and a consensus target price of $16.20.

Crescent Energy Trading Up 2.0 %

Shares of CRGY stock opened at $11.17 on Tuesday. The stock has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $11.60. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The firm has a market capitalization of $1.98 billion, a PE ratio of -55.85 and a beta of 2.26. 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 (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The business had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. On average, analysts predict that Crescent Energy will post 1.5 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is currently -240.00%.

Insider Buying and Selling

In related news, Director Michael Duginski purchased 9,344 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 12,294 shares of company stock valued at $131,297 in the last ninety days. 13.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crescent Energy

Large investors have recently bought and sold shares of the business. Trexquant Investment LP purchased a new position in Crescent Energy in the fourth quarter worth $298,000. The Manufacturers Life Insurance Company grew its holdings in Crescent Energy by 22,968.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after purchasing an additional 3,642,584 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Crescent Energy by 21.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after purchasing an additional 291,990 shares during the last quarter. Vanguard Group Inc. grew its holdings in Crescent Energy by 6.9% in the fourth 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 during the last quarter. Finally, Northside Capital Management LLC purchased a new position in Crescent Energy in the first quarter worth $4,453,000. 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.