Crescent Energy Company $CRGY Shares Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC raised its stake in shares of Crescent Energy Company (NYSE:CRGY) by 715.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,927 shares of the company’s stock after acquiring an additional 73,637 shares during the period. Bryce Point Capital LLC’s holdings in Crescent Energy were worth $722,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRGY. Nuveen LLC acquired a new stake in shares of Crescent Energy during the first quarter valued at about $21,782,000. Alyeska Investment Group L.P. increased its position in shares of Crescent Energy by 452.3% during the first quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock valued at $17,817,000 after acquiring an additional 1,298,155 shares during the last quarter. American Century Companies Inc. increased its position in shares of Crescent Energy by 10.0% during the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock valued at $156,996,000 after acquiring an additional 1,266,674 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Crescent Energy during the first quarter valued at about $10,087,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRGY. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the company a “strong-buy” rating in a report on Wednesday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, William Blair began coverage on shares of Crescent Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Two 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.22.

Crescent Energy Trading Up 1.4%

NYSE CRGY opened at $8.55 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a market capitalization of $2.18 billion, a PE ratio of -47.51 and a beta of 1.89. The firm has a 50 day moving average of $8.77 and a two-hundred day moving average of $8.89.

Crescent Energy (NYSE:CRGY) last posted 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, research analysts expect that Crescent Energy Company will post 0.77 EPS for the current fiscal 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.