Wells Fargo & Company Lowers Crescent Energy (NYSE:CRGY) Price Target to $16.00

Crescent Energy (NYSE:CRGY – Get Rating) had its target price dropped by Wells Fargo & Company from $18.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 58.10% from the stock’s current price.

Several other equities research analysts have also issued reports on CRGY. Bank of America lowered Crescent Energy from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $13.00 to $14.00 in a research note on Wednesday, January 25th. Credit Suisse Group began coverage on Crescent Energy in a report on Tuesday, February 14th. They issued a “neutral” rating and a $14.00 target price on the stock. Mizuho lowered their target price on Crescent Energy from $19.00 to $18.00 in a report on Friday, March 10th. Finally, Truist Financial lowered their target price on Crescent Energy to $20.00 in a report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.17.

Crescent Energy Trading Down 5.9 %

Shares of CRGY stock opened at $10.12 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $11.84 and a two-hundred day moving average price of $13.32. Crescent Energy has a 12-month low of $9.98 and a 12-month high of $19.65. The firm has a market cap of $1.72 billion, a P/E ratio of 4.61 and a beta of 2.43.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors have recently modified their holdings of CRGY. Alliancebernstein L.P. lifted its stake in shares of Crescent Energy by 10.2% during the 4th quarter. Alliancebernstein L.P. now owns 37,780 shares of the company’s stock worth $453,000 after acquiring an additional 3,500 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Crescent Energy by 6.8% during the 4th quarter. MetLife Investment Management LLC now owns 20,000 shares of the company’s stock worth $240,000 after acquiring an additional 1,266 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Crescent Energy by 11.4% during the 4th quarter. Legal & General Group Plc now owns 14,606 shares of the company’s stock worth $175,000 after acquiring an additional 1,500 shares during the last quarter. Magnolia Capital Advisors LLC lifted its stake in shares of Crescent Energy by 18.2% during the 4th quarter. Magnolia Capital Advisors LLC now owns 86,634 shares of the company’s stock worth $1,039,000 after acquiring an additional 13,334 shares during the last quarter. Finally, Delphia USA Inc. lifted its stake in shares of Crescent Energy by 226.7% during the 4th quarter. Delphia USA Inc. now owns 64,374 shares of the company’s stock worth $772,000 after acquiring an additional 44,668 shares during the last quarter. 10.92% of the stock is owned by institutional investors.

About Crescent Energy

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Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.