Crescent Energy (NYSE:CRGY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its price target on Crescent Energy from $14 to $18 and kept an "overweight" rating, implying a potential 41.34% upside from the prior close.
• Multiple firms have recently upgraded CRGY (including KeyCorp, Wall Street Zen and Zacks), leaving a MarketBeat consensus of Moderate Buy with an average target of $15.20.
• Crescent shares traded around $12.74 (market cap $4.18B) after reporting a quarterly EPS beat of $0.49 vs. $0.30; the company is focused on production in the Permian/Delaware Basin.

Crescent Energy (NYSE:CRGY - Get Free Report) had its price objective upped by equities research analysts at Wells Fargo & Company from $14.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 41.34% from the company's previous close.

Several other equities analysts have also weighed in on CRGY. KeyCorp lifted their price objective on Crescent Energy from $15.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, April 2nd. Wall Street Zen raised Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Zacks Research raised Crescent Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 3rd. William Blair reissued an "outperform" rating on shares of Crescent Energy in a research report on Friday, March 6th. Finally, Johnson Rice reissued an "accumulate" rating and set a $19.00 price target on shares of Crescent Energy in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.20.

Crescent Energy Trading Up 0.8%

Shares of NYSE CRGY traded up $0.11 during midday trading on Thursday, hitting $12.74. The stock had a trading volume of 643,504 shares, compared to its average volume of 7,812,641. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 24.49 and a beta of 1.55. Crescent Energy has a 1-year low of $7.68 and a 1-year high of $14.02. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average price of $12.03 and a 200 day moving average price of $9.95.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.19. The business had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. On average, analysts predict that Crescent Energy will post 1.52 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its holdings in Crescent Energy by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company's stock worth $46,000 after purchasing an additional 1,066 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Crescent Energy by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company's stock worth $547,000 after purchasing an additional 1,152 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company's stock worth $33,000 after purchasing an additional 1,241 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Crescent Energy by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company's stock worth $526,000 after purchasing an additional 1,245 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Crescent Energy by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company's stock worth $192,000 after purchasing an additional 1,397 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Company Profile

Crescent Energy Co NYSE: CRGY is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company's core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy's integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy's operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin's stacked pay intervals.

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