Cubist Systematic Strategies LLC bought a new stake in shares of Crescent Energy (NYSE:CRGY – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 68,384 shares of the company’s stock, valued at approximately $921,000.
→ Is Taiwan a Chinese Red Herring? The Real Threat to the U.S. (From Investing Trends)
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRGY. American International Group Inc. grew its stake in shares of Crescent Energy by 4.3% during the second quarter. American International Group Inc. now owns 15,210 shares of the company’s stock worth $190,000 after acquiring an additional 625 shares during the last quarter. UBS Group AG increased its stake in Crescent Energy by 8.0% during the 3rd quarter. UBS Group AG now owns 13,500 shares of the company’s stock valued at $182,000 after purchasing an additional 1,000 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Crescent Energy during the 3rd quarter valued at approximately $26,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Crescent Energy by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 75,982 shares of the company’s stock worth $1,318,000 after buying an additional 1,945 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Crescent Energy by 20.8% during the second quarter. Legal & General Group Plc now owns 17,833 shares of the company’s stock worth $223,000 after buying an additional 3,065 shares during the period. 10.92% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on CRGY shares. Mizuho began coverage on Crescent Energy in a research note on Monday, January 9th. They issued a “buy” rating and a $19.00 target price for the company. Credit Suisse Group initiated coverage on shares of Crescent Energy in a research report on Tuesday, February 14th. They set a “neutral” rating and a $14.00 target price for the company. Bank of America downgraded Crescent Energy from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $13.00 to $14.00 in a research report on Wednesday, January 25th. Finally, Truist Financial reduced their price target on Crescent Energy to $20.00 in a research report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has an average rating of “Hold” and an average price target of $16.67.
Crescent Energy Stock Down 1.0 %
NYSE:CRGY opened at $11.62 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.56. Crescent Energy has a 52 week low of $10.73 and a 52 week high of $19.65. The stock’s 50-day moving average price is $11.91 and its 200-day moving average price is $13.53.
Crescent Energy Profile
Crescent Energy Company, an energy company, explores for, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, Mid-Con, and other basins in the United States.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Crescent Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Crescent Energy wasn’t on the list.
While Crescent Energy currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
