Crescent Energy (NYSE:CRGY) Given New $20.00 Price Target at Wells Fargo & Company

Crescent Energy (NYSE:CRGY) had its target price lifted by Wells Fargo & Company from $19.00 to $20.00 in a research report sent to investors on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages have also weighed in on CRGY. Raymond James decreased their price objective on Crescent Energy from $16.00 to $15.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Mizuho reissued a neutral rating and issued a $13.00 price objective (down previously from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. Stephens reissued an overweight rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, March 5th. Tudor, Pickering, Holt & Co. assumed coverage on Crescent Energy in a report on Wednesday, April 10th. They issued a buy rating and a $18.00 price objective for the company. Finally, TheStreet raised Crescent Energy from a d rating to a c- rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy currently has an average rating of Buy and an average price target of $16.38.

Crescent Energy Trading Up 0.4 %

Shares of Crescent Energy stock opened at $11.02 on Monday. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $14.22. The firm has a market cap of $1.98 billion, a PE ratio of 8.54 and a beta of 2.24. The stock has a fifty day moving average price of $11.29 and a 200-day moving average price of $11.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The firm had revenue of $657.73 million during the quarter, compared to analyst estimates of $584.12 million. Equities research analysts anticipate that Crescent Energy will post 0.98 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Thursday, March 14th. Crescent Energy’s payout ratio is presently 37.21%.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.20% of the company’s stock.

Institutional Trading of Crescent Energy

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after acquiring an additional 2,934 shares during the last quarter. Northside Capital Management LLC bought a new stake in shares of Crescent Energy during the 1st quarter valued at about $4,453,000. Vanguard Group Inc. boosted its position in shares of Crescent Energy by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after acquiring an additional 530,199 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Crescent Energy by 21.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock valued at $22,042,000 after acquiring an additional 291,990 shares during the last quarter. Finally, CoreCommodity Management LLC boosted its position in shares of Crescent Energy by 148.6% during the 4th quarter. CoreCommodity Management LLC now owns 78,343 shares of the company’s stock valued at $1,035,000 after acquiring an additional 46,825 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, 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 regions, including the Eagle Ford, Marcellus, Utica, and Rockies in the United States.