Crescent Energy (NYSE:CRGY) Price Target Lowered to $15.00 at Truist Financial

Crescent Energy (NYSE:CRGY) had its price target decreased by Truist Financial from $19.00 to $15.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 34.29% from the stock’s current price.

Several other equities research analysts also recently issued reports on CRGY. Wolfe Research began coverage on Crescent Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Tuesday, August 6th. Mizuho reduced their price objective on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy currently has an average rating of “Buy” and a consensus target price of $16.20.

Crescent Energy Price Performance

Shares of CRGY stock opened at $11.17 on Monday. The firm has a fifty day simple moving average of $11.19 and a 200-day simple moving average of $11.60. The company has a market capitalization of $1.98 billion, a PE ratio of -55.85 and a beta of 2.26. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The company had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Equities research analysts anticipate that Crescent Energy will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the purchase, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 12,294 shares of company stock worth $131,297 over the last quarter. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crescent Energy

Several large investors have recently added to or reduced their stakes in CRGY. CWM LLC grew its position in Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Crescent Energy in the 2nd quarter valued at approximately $32,000. Spirit of America Management Corp NY bought a new stake in Crescent Energy during the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its position in Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after acquiring an additional 2,934 shares during the period. Finally, Equitec Proprietary Markets LLC acquired a new position in Crescent Energy during the 2nd quarter worth $107,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Company Profile

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.