Wells Fargo & Company Increases Crescent Energy (NYSE:CRGY) Price Target to $20.00

Crescent Energy (NYSE:CRGY) had its price target lifted by investment analysts at Wells Fargo & Company from $19.00 to $20.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 82.32% from the stock’s previous close.

Several other analysts also recently weighed in on CRGY. TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Truist Financial dropped their price target on shares of Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Mizuho reiterated a “neutral” rating and issued a $13.00 price objective (down from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, March 5th. Finally, Raymond James decreased their price target on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.38.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $10.97 on Monday. The company’s fifty day simple moving average is $11.29 and its 200-day simple moving average is $11.56. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.98. Crescent Energy has a 52 week low of $9.17 and a 52 week high of $14.22. The company has a market cap of $1.97 billion, a PE ratio of 8.50 and a beta of 2.24.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, March 4th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.21 by $0.37. The business had revenue of $657.73 million for the quarter, compared to analysts’ expectations of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. As a group, equities research analysts anticipate that Crescent Energy will post 0.98 EPS for the current year.

Insider Activity

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Magnolia Capital Advisors LLC raised its holdings in Crescent Energy by 0.8% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 125,509 shares of the company’s stock worth $1,550,000 after acquiring an additional 982 shares during the period. Ziegler Capital Management LLC boosted its stake in Crescent Energy by 5.6% during the 4th quarter. Ziegler Capital Management LLC now owns 51,278 shares of the company’s stock valued at $677,000 after purchasing an additional 2,734 shares during the period. Amalgamated Bank increased its position in Crescent Energy by 58.5% in the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after buying an additional 2,748 shares during the period. GAMMA Investing LLC lifted its holdings 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 buying an additional 2,934 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Crescent Energy by 26.5% in the fourth quarter. Arizona State Retirement System now owns 21,879 shares of the company’s stock valued at $289,000 after acquiring an additional 4,577 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.