Crescent Energy Company $CRGY Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in Crescent Energy Company (NYSE:CRGY) by 31.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,092 shares of the company’s stock after selling 62,532 shares during the quarter. Thrivent Financial for Lutherans owned about 0.05% of Crescent Energy worth $1,196,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after purchasing an additional 1,241 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after buying an additional 1,066 shares during the last quarter. MQS Management LLC purchased a new position in shares of Crescent Energy in the second quarter worth about $91,000. Focus Partners Advisor Solutions LLC acquired a new position in Crescent Energy during the second quarter worth about $97,000. Finally, NewEdge Advisors LLC boosted its position in Crescent Energy by 1,227.9% during the second quarter. NewEdge Advisors LLC now owns 11,951 shares of the company’s stock worth $103,000 after acquiring an additional 11,051 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

NYSE:CRGY opened at $10.23 on Friday. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $15.58. The stock’s fifty day moving average is $8.90 and its two-hundred day moving average is $8.95. The company has a market capitalization of $2.60 billion, a P/E ratio of -68.17 and a beta of 1.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.72.

Analyst Upgrades and Downgrades

CRGY has been the topic of a number of research reports. Evercore began coverage on shares of Crescent Energy in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 target price on the stock. Mizuho increased their price target on Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Piper Sandler lowered their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Wall Street Zen downgraded Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.27.

Crescent Energy Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.