Crescent Energy (NYSE:CRGY) Given New $14.00 Price Target at Wells Fargo & Company

by · The Markets Daily

Crescent Energy (NYSE:CRGY – Get Free Report) had its target price upped by equities researchers at Wells Fargo & Company from $13.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.06% from the company’s current price.

Several other analysts have also commented on CRGY. Piper Sandler lifted their price target on shares of Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Mizuho increased their price objective on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Evercore assumed coverage on Crescent Energy in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price on the stock. BMO Capital Markets started coverage on Crescent Energy in a research note on Friday, January 9th. They issued a “market perform” rating and a $10.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Crescent Energy in a report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.13.

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Crescent Energy Trading Up 3.1%

Shares of CRGY stock opened at $12.17 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $12.40. The company’s 50-day moving average price is $9.96 and its 200-day moving average price is $9.22. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 23.37 and a beta of 1.57.

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 (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.19. The firm had revenue of $865.05 million during the quarter, compared to analysts’ expectations of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. As a group, equities analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Institutional Trading of Crescent Energy

A number of large investors have recently modified their holdings of the stock. Caitlin John LLC acquired a new stake in shares of Crescent Energy in the third quarter valued at $27,000. Nisa Investment Advisors LLC boosted its holdings in Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after purchasing an additional 1,241 shares during the period. Fifth Third Bancorp grew its stake in Crescent Energy by 109.3% during the 4th quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock worth $33,000 after purchasing an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Crescent Energy by 134.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock worth $33,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Quarry LP increased its holdings in Crescent Energy by 303.5% during the 3rd quarter. Quarry LP now owns 4,152 shares of the company’s stock worth $37,000 after purchasing an additional 3,123 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

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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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