Crescent Energy Company $CRGY Stake Lessened by Versor Investments LP

Versor Investments LP lessened its stake in Crescent Energy Company (NYSE:CRGY) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,843 shares of the company’s stock after selling 7,957 shares during the period. Versor Investments LP’s holdings in Crescent Energy were worth $635,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CRGY. KBC Group NV bought a new stake in Crescent Energy during the first quarter valued at $117,000. Amalgamated Bank increased its stake in Crescent Energy by 3.0% during the first quarter. Amalgamated Bank now owns 51,467 shares of the company’s stock valued at $578,000 after purchasing an additional 1,506 shares during the last quarter. New York State Teachers Retirement System increased its stake in Crescent Energy by 12.3% during the first quarter. New York State Teachers Retirement System now owns 61,361 shares of the company’s stock valued at $690,000 after purchasing an additional 6,744 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Crescent Energy during the first quarter valued at $290,000. Finally, Principal Financial Group Inc. increased its stake in Crescent Energy by 7.4% during the first quarter. Principal Financial Group Inc. now owns 910,171 shares of the company’s stock valued at $10,230,000 after purchasing an additional 62,622 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. William Blair assumed coverage on shares of Crescent Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Crescent Energy in a research note on Wednesday, October 8th. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Mizuho lowered their target price on shares of Crescent Energy from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Finally, Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.22.

Crescent Energy Stock Up 1.4%

Crescent Energy stock opened at $8.55 on Tuesday. The company has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $8.89. The firm has a market capitalization of $2.18 billion, a P/E ratio of -47.51 and a beta of 1.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. Crescent Energy Company has a one year low of $6.83 and a one year high of $16.94.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. As a group, equities analysts expect that Crescent Energy Company will post 0.77 earnings per share for the current year.

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.