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

Crescent Energy (NYSE:CRGY - Get Free Report) had its price objective cut by investment analysts at Wells Fargo & Company from $20.00 to $19.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 100.55% from the company's previous close.

CRGY has been the topic of several other reports. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Piper Sandler initiated coverage on Crescent Energy in a research note on Monday, June 9th. They set an "overweight" rating and a $14.00 price objective for the company. Stephens reissued an "overweight" rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, KeyCorp reduced their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Crescent Energy has an average rating of "Moderate Buy" and an average price target of $16.00.

Crescent Energy Trading Down 3.1%

NYSE:CRGY traded down $0.31 on Monday, reaching $9.47. The company's stock had a trading volume of 1,030,574 shares, compared to its average volume of 3,393,356. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The stock has a 50 day moving average price of $8.60 and a 200 day moving average price of $11.89. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 15.27 and a beta of 1.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

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. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. On average, equities analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently made changes to their positions in CRGY. Brooklyn Investment Group increased 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 worth $28,000 after acquiring an additional 2,254 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after acquiring an additional 705 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Crescent Energy during the 1st quarter worth approximately $34,000. Jones Financial Companies Lllp raised its position in Crescent Energy by 206.7% during 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 lifted its stake in Crescent Energy by 263.4% in 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 last quarter. 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.

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