Callahan Advisors LLC Cuts Position in Crescent Energy (NYSE:CRGY)

Callahan Advisors LLC decreased its holdings in Crescent Energy (NYSE:CRGY) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,759 shares of the company’s stock after selling 2,179 shares during the quarter. Callahan Advisors LLC’s holdings in Crescent Energy were worth $771,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in shares of Crescent Energy during the 4th quarter worth $170,905,000. State Street Corp raised its stake in shares of Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after buying an additional 2,986,468 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock worth $69,914,000 after buying an additional 3,354,362 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock worth $40,501,000 after buying an additional 33,626 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock worth $36,741,000 after buying an additional 1,164,306 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Up 1.8 %

CRGY opened at $15.15 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 24.43 and a beta of 2.16. The business has a 50-day moving average of $15.08 and a two-hundred day moving average of $13.34. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94.

Analyst Upgrades and Downgrades

CRGY has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James boosted their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Mizuho boosted their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Stephens boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Buy” and a consensus price target of $17.50.

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.