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

Crescent Energy (NYSE:CRGYGet Free Report) had its target price decreased by stock analysts at Truist Financial from $19.00 to $15.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 34.29% from the stock’s previous close.

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

Get Our Latest Stock Analysis on CRGY

Crescent Energy Stock Up 2.0 %

Shares of CRGY opened at $11.17 on Monday. The company’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $11.60. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $13.85. The stock has a market capitalization of $1.98 billion, a PE ratio of -55.85 and a beta of 2.26.

Crescent Energy (NYSE:CRGYGet Free Report) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. Analysts forecast that Crescent Energy will post 1.5 earnings per share for the current fiscal year.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, 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 SEC, which is available through the SEC website. Insiders have purchased a total of 12,294 shares of company stock valued at $131,297 over the last quarter. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Crescent Energy by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after buying an additional 1,137,367 shares during the period. American Century Companies Inc. raised its holdings in shares of Crescent Energy by 444.8% in the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after purchasing an additional 6,348,598 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Crescent Energy by 22,968.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock valued at $48,328,000 after buying an additional 3,642,584 shares during the period. Marshall Wace LLP raised its holdings in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after buying an additional 2,098,303 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after buying an additional 1,226,027 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Company Profile

(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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