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

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Crescent Energy (NYSE:CRGY) in a report issued on Wednesday, Briefing.com reports. The firm set a “neutral” rating and a $12.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 9.19% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company raised their target price on shares of Crescent Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Wolfe Research assumed coverage on shares of Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price for the company. Stephens restated an “overweight” rating and issued a $20.00 target price on shares of Crescent Energy in a report on Tuesday, August 6th. Mizuho lowered their target price on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday. Finally, KeyCorp assumed coverage on shares of Crescent Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $16.00 target price for the company. Two 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.com, the company presently has a consensus rating of “Buy” and an average price target of $16.27.

Crescent Energy Stock Performance

Shares of NYSE:CRGY opened at $10.99 on Wednesday. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The stock has a market capitalization of $1.95 billion, a P/E ratio of -54.95 and a beta of 2.26. The firm has a fifty day simple moving average of $11.40 and a two-hundred day simple moving average of $11.59. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $619.00 million. On average, analysts expect that Crescent Energy will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of Crescent Energy stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the acquisition, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders acquired 12,294 shares of company stock worth $131,297. 13.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Crescent Energy

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Crescent Energy by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after purchasing an additional 1,137,367 shares during the last quarter. American Century Companies Inc. boosted its holdings in Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Crescent Energy by 22,968.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after buying an additional 3,642,584 shares in the last quarter. Marshall Wace LLP boosted its holdings in Crescent Energy by 286.7% during the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after buying an additional 2,098,303 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock worth $31,477,000 after buying an additional 1,226,027 shares in the last quarter. Hedge funds and other 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.