Crescent Energy (NYSE:CRGY) Price Target Lowered to $12.00 at JPMorgan Chase & Co.

Crescent Energy (NYSE:CRGY - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $18.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 13.26% from the company's current price.

A number of other research analysts have also commented on the company. Mizuho upped their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Raymond James lifted their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 23rd. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Truist Financial raised their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $17.45.

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Crescent Energy Stock Down 1.2 %

NYSE:CRGY traded down $0.13 during trading hours on Thursday, reaching $10.60. 2,595,433 shares of the stock were exchanged, compared to its average volume of 2,974,820. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The firm has a 50 day moving average of $14.55 and a 200 day moving average of $13.49. The stock has a market cap of $2.74 billion, a PE ratio of 16.97 and a beta of 2.18.

Insider Activity at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crescent Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after buying an additional 705 shares during the period. Hsbc Holdings PLC increased its stake in shares of Crescent Energy by 4.3% during the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after purchasing an additional 785 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Crescent Energy by 2.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock valued at $553,000 after purchasing an additional 897 shares during the last quarter. Dark Forest Capital Management LP increased its position in Crescent Energy by 4.0% during the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock valued at $487,000 after buying an additional 1,282 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after acquiring an additional 1,621 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

About Crescent Energy

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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