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

Crescent Energy (NYSE:CRGY - Get Free Report) had its price objective reduced by research analysts at Wells Fargo & Company from $20.00 to $19.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 99.89% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. KeyCorp cut their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Stephens reiterated an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. JPMorgan Chase & Co. cut their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $16.00.

Crescent Energy Trading Down 0.8%

Crescent Energy stock traded down $0.08 during midday trading on Monday, hitting $9.51. 2,744,943 shares of the stock were exchanged, compared to its average volume of 3,405,428. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.10. The stock's 50-day simple moving average is $8.69 and its 200 day simple moving average is $11.82. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -21.12 and a beta of 1.75.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. On average, equities analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Institutional Trading of Crescent Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group grew its holdings in shares of Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock valued at $28,000 after purchasing an additional 2,254 shares in the last quarter. Allworth Financial LP purchased a new position in Crescent Energy in the 1st quarter valued at approximately $34,000. Public Employees Retirement System of Ohio grew its stake in shares of Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after acquiring an additional 705 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Quarry LP increased its position in shares of Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after acquiring an additional 3,155 shares during the period. 52.11% of the stock is currently owned by hedge funds and other 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.