KeyCorp Lowers Crescent Energy (NYSE:CRGY) Price Target to $14.00

by · The Cerbat Gem

Crescent Energy (NYSE:CRGY – Get Free Report) had its price target lowered by stock analysts at KeyCorp from $18.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 72.52% from the company’s current price.

Several other brokerages have also recently weighed in on CRGY. Truist Financial boosted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Raymond James restated a “strong-buy” rating and set a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Citigroup cut Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.80.

Check Out Our Latest Stock Analysis on Crescent Energy

Crescent Energy Price Performance

Crescent Energy stock traded down $0.27 during midday trading on Monday, reaching $8.12. 447,686 shares of the stock traded hands, compared to its average volume of 3,211,859. 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 has a 12 month low of $6.83 and a 12 month high of $16.94. The stock’s fifty day moving average is $11.07 and its 200-day moving average is $13.17. The stock has a market cap of $2.10 billion, a P/E ratio of 13.09 and a beta of 1.88.

Insider Activity

In other news, Director Michael Duginski purchased 20,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This represents a 8.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of Crescent Energy by 35.3% during the fourth 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 in the last quarter. Jones Financial Companies Lllp lifted its holdings 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 buying an additional 2,377 shares during the period. Quarry LP boosted its position in 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 acquiring an additional 3,155 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after acquiring an additional 1,621 shares during the period. Finally, Toth Financial Advisory Corp bought a new position in shares of Crescent Energy in the 4th quarter worth $131,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

About Crescent Energy

(Get Free Report)

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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