Empowered Funds LLC Has $14.21 Million Position in Crescent Energy (NYSE:CRGY)

Empowered Funds LLC increased its stake in Crescent Energy (NYSE:CRGY - Free Report) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 972,725 shares of the company's stock after purchasing an additional 47,424 shares during the quarter. Empowered Funds LLC owned approximately 0.43% of Crescent Energy worth $14,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRGY. Wedmont Private Capital purchased a new position in Crescent Energy in the 3rd quarter worth about $156,000. Creative Planning increased its stake in Crescent Energy by 37.1% in the 3rd quarter. Creative Planning now owns 112,834 shares of the company's stock worth $1,236,000 after purchasing an additional 30,530 shares in the last quarter. nVerses Capital LLC purchased a new position in Crescent Energy in the 3rd quarter worth about $206,000. Koss Olinger Consulting LLC purchased a new position in Crescent Energy in the 3rd quarter worth about $533,000. Finally, Montgomery Investment Management Inc. purchased a new position in Crescent Energy in the 3rd quarter worth about $272,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Price Performance

NYSE:CRGY traded down $0.52 during trading hours on Wednesday, reaching $14.50. The company had a trading volume of 1,988,459 shares, compared to its average volume of 2,338,188. The stock has a 50-day moving average of $15.04 and a two-hundred day moving average of $13.23. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. The firm has a market capitalization of $3.31 billion, a PE ratio of 23.39 and a beta of 2.16. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Analysts Set New Price Targets

Several equities analysts have weighed in on CRGY shares. Stephens lifted their target price on Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Siebert Williams Shank began coverage on Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating for the company. Wells Fargo & Company reduced their target price on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Raymond James boosted their price objective 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. Finally, Mizuho boosted their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $17.50.

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.