Crescent Energy (NYSE:CRGY) PT Lowered to $19.00 at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price target dropped by equities research analysts at Wells Fargo & Company from $20.00 to $19.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 53.85% from the stock’s previous close.

A number of other research firms also recently commented on CRGY. KeyCorp assumed coverage on shares of Crescent Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $16.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective on the stock. Mizuho cut their price objective on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Evercore ISI reissued an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Finally, Truist Financial decreased their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two research analysts have 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 MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $16.10.

Crescent Energy Trading Down 0.6 %

Shares of NYSE:CRGY traded down $0.07 on Monday, hitting $12.35. The company had a trading volume of 140,359 shares, compared to its average volume of 2,379,870. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $13.85. The firm’s 50-day simple moving average is $11.60 and its two-hundred day simple moving average is $11.72. 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 $2.19 billion, a price-to-earnings ratio of -61.75 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last announced 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 company had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Equities analysts anticipate that Crescent Energy will post 1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crescent Energy news, Director Michael Duginski acquired 9,344 shares of Crescent Energy stock in a transaction that occurred on Thursday, August 8th. The stock was bought 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 directly owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 12,294 shares of company stock worth $131,297 in the last three months. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of CRGY. American Century Companies Inc. lifted 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 valued at $92,145,000 after buying an additional 6,348,598 shares during the period. Marshall Wace LLP lifted its holdings in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares during the period. Zimmer Partners LP purchased a new stake in Crescent Energy in the 1st quarter worth approximately $17,731,000. Dimensional Fund Advisors LP grew its stake in shares of Crescent Energy by 85.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock worth $31,477,000 after purchasing an additional 1,226,027 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Crescent Energy by 13.9% in the 1st 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 during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

About Crescent Energy

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.