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

Crescent Energy (NYSE:CRGY) had its price objective raised by research analysts at Wells Fargo & Company from $19.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 82.32% from the company’s current price.

CRGY has been the subject of a number of other research reports. Raymond James dropped their target price on shares of Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Truist Financial dropped their price target on Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 5th. TheStreet raised Crescent Energy from a “d” rating to a “c-” rating in a report on Wednesday, February 14th. Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Mizuho reiterated a “neutral” rating and issued a $13.00 price target (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.38.

Crescent Energy Trading Down 0.5 %

NYSE:CRGY opened at $10.97 on Monday. Crescent Energy has a one year low of $9.17 and a one year high of $14.22. The business has a fifty day moving average price of $11.29 and a 200-day moving average price of $11.56. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.50 and a beta of 2.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82.

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

Insiders Place Their Bets

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Crescent Energy

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Crescent Energy by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after buying an additional 530,199 shares during the last quarter. Teacher Retirement System of Texas grew its position in Crescent Energy by 0.4% during the 4th quarter. Teacher Retirement System of Texas now owns 8,029,515 shares of the company’s stock worth $106,069,000 after purchasing an additional 34,631 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 buying an additional 3,642,584 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Crescent Energy by 21.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock valued at $22,042,000 after acquiring an additional 291,990 shares during the period. Finally, Pingora Partners LLC purchased a new position in Crescent Energy in the 4th quarter worth $17,554,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

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.