Wells Fargo & Company Boosts Crescent Energy (NYSE:CRGY) Price Target to $21.00

Crescent Energy (NYSE:CRGY) had its price target upped by stock analysts at Wells Fargo & Company from $20.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 87.84% from the company’s current price.

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

Crescent Energy Price Performance

Shares of NYSE:CRGY traded up $0.03 during trading on Thursday, reaching $11.18. The company had a trading volume of 722,190 shares, compared to its average volume of 2,042,471. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market capitalization of $1.98 billion, a PE ratio of -55.90 and a beta of 2.32. The firm’s fifty day moving average is $11.65 and its 200 day moving average is $11.61.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data 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. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The business had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. On average, equities analysts forecast that Crescent Energy will post 1.43 EPS for the current year.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski bought 9,344 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 11,344 shares of company stock valued at $120,723 in the last quarter. Company insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CWM LLC lifted its stake 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 acquired a new stake in shares of Crescent Energy in the second quarter worth about $32,000. Spirit of America Management Corp NY bought a new stake in shares of Crescent Energy during the 2nd quarter worth about $36,000. GAMMA Investing LLC increased its holdings in shares of Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after acquiring an additional 2,934 shares during the last quarter. Finally, Amalgamated Bank raised its stake 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 in the last quarter. Institutional investors and hedge funds 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.