Wells Fargo & Company Boosts Crescent Energy (NYSE:CRGY) Price Target to $20.00

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

CRGY has been the topic of several other reports. Truist Financial reduced their price objective on Crescent Energy from $23.00 to $19.00 and set a buy rating on the stock in a research report on Friday, April 5th. Raymond James reduced their price target on Crescent Energy from $16.00 to $15.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Mizuho restated a neutral rating and set a $13.00 price target (down from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Stephens restated an overweight rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, March 5th. Finally, Tudor, Pickering, Holt & Co. initiated coverage on Crescent Energy in a research report on Wednesday, April 10th. They set a buy rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of Buy and a consensus target price of $16.38.

Crescent Energy Stock Performance

NYSE:CRGY opened at $10.74 on Monday. The business’s 50-day moving average price is $11.29 and its two-hundred day moving average price is $11.55. Crescent Energy has a twelve month low of $9.17 and a twelve month high of $14.22. The stock has a market cap of $1.93 billion, a P/E ratio of 8.33 and a beta of 2.24. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.98.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.21 by $0.37. The firm had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. As a group, equities analysts predict that Crescent Energy will post 0.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.47%. Crescent Energy’s dividend payout ratio is currently 37.21%.

Insider Transactions at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CRGY. SG Americas Securities LLC purchased a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $140,000. Ziegler Capital Management LLC purchased a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $614,000. Denali Advisors LLC lifted its stake in shares of Crescent Energy by 21.8% in the 3rd quarter. Denali Advisors LLC now owns 82,100 shares of the company’s stock valued at $1,038,000 after purchasing an additional 14,700 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $403,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Crescent Energy by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 482,065 shares of the company’s stock valued at $6,093,000 after purchasing an additional 12,903 shares during the period. Hedge funds and other 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 Eagle Ford and Uinta basins. The company is based in Houston, Texas.