Wells Fargo Maintained a Buy Rating on Crescent Energy Company (CRGY), Raised the PT

Crescent Energy Company (NYSE:CRGY) is one of the Best Stocks Under $10 With Biggest Upside Potential. On July 3, Hanwen Chang from Wells Fargo maintained a Buy rating on Crescent Energy Company (NYSE:CRGY) and raised the price target from $19 to $20.

The company delivered strong results in the first quarter of 2025, with all major financial targets being met or exceeded. It generated $337 million in operating cash flow and $242 million in levered free cash flow, equating to an annualized yield of about 45%. Management noted that the operational efficiency improved, particularly in South Texas.

Notably, Crescent Energy Company (NYSE:CRGY) sold about $90 million in non-core assets, focusing on streamlining its portfolio. Management adjusted the 2025 guidance after its divestiture from a range of 254 MBoe/d – 264 MBoe/d to 251 MBoe/d – 261 MBoe/d.

Crescent Energy Company (NYSE:CRGY) is an oil and gas company focused on producing energy in Texas and the Rocky Mountains.

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Disclosure: None. This article is originally published at Insider Monkey.