Pointe Capital Management LLC Sells 39,950 Shares of Crescent Energy (NYSE:CRGY)

Pointe Capital Management LLC lowered its stake in Crescent Energy (NYSE:CRGY) by 50.0% in the 4th quarter, HoldingsChannel reports. The fund owned 39,959 shares of the company’s stock after selling 39,950 shares during the period. Pointe Capital Management LLC’s holdings in Crescent Energy were worth $584,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new position in shares of Crescent Energy in the 4th quarter worth approximately $170,905,000. Bank of New York Mellon Corp lifted its position in Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock worth $135,316,000 after buying an additional 3,305,833 shares during the last quarter. State Street Corp boosted its stake in Crescent Energy by 78.6% during the third 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 period. Jennison Associates LLC increased its position in Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after acquiring an additional 3,354,362 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Crescent Energy by 0.9% in the third quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after acquiring an additional 33,626 shares during the period. 52.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRGY. Truist Financial lifted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James boosted their target price on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Mizuho increased their price target on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Siebert Williams Shank started coverage on Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $17.50.

Crescent Energy Stock Down 3.5 %

NYSE:CRGY opened at $13.71 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. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The company has a 50-day moving average of $15.08 and a 200 day moving average of $13.48. The firm has a market cap of $3.13 billion, a PE ratio of 22.10 and a beta of 2.16.

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.