Yousif Capital Management LLC Takes Position in Crescent Energy (NYSE:CRGY)

Yousif Capital Management LLC bought a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 65,424 shares of the company's stock, valued at approximately $956,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in Crescent Energy in the 4th quarter valued at $170,905,000. Jennison Associates LLC grew its position in Crescent Energy by 234.4% in the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock valued at $69,914,000 after purchasing an additional 3,354,362 shares during the period. State Street Corp grew its position in Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after purchasing an additional 2,986,468 shares during the period. Wellington Management Group LLP acquired a new stake in Crescent Energy in the 3rd quarter valued at $21,872,000. Finally, Riposte Capital LLC acquired a new stake in Crescent Energy in the 3rd quarter valued at $18,232,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRGY. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Mizuho upped their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Siebert Williams Shank started coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating for the company. Stephens upped their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of "Buy" and a consensus target price of $17.50.

Crescent Energy Stock Performance

Shares of CRGY stock traded up $0.29 during trading hours on Tuesday, hitting $15.16. 268,540 shares of the company were exchanged, compared to its average volume of 2,228,590. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 24.44 and a beta of 2.16. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $15.07 and a 200 day simple moving average of $13.31.

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.