Crescent Energy (NYSE:CRGY) Price Target Cut to $20.00 by Analysts at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its price objective decreased by investment analysts at Wells Fargo & Company from $21.00 to $20.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 72.03% from the stock’s current price.

CRGY has been the topic of several other research reports. Citigroup cut shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a “buy” rating for the company. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.55.

Crescent Energy Stock Performance

Shares of CRGY opened at $11.63 on Monday. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. The company has a market cap of $3.01 billion, a PE ratio of 18.66 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average of $13.95 and a 200-day moving average of $13.48.

Insiders Place Their Bets

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Duginski acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the transaction, the director now owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This trade represents a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares during the period. Jones Financial Companies Lllp raised its position in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares during the period. Quarry LP raised its position in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares during the period. GAMMA Investing LLC raised its position in shares of Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares during the period. Finally, Zacks Investment Management purchased a new position in Crescent Energy during the third quarter valued at $121,000. 52.11% of the stock is currently owned by institutional investors.

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.