Thrivent Financial for Lutherans Reduces Stake in Crescent Energy Company $CRGY

Thrivent Financial for Lutherans lowered its stake in shares of Crescent Energy Company (NYSE:CRGY) by 31.8% during the third quarter, Holdings Channel reports. The firm owned 134,092 shares of the company’s stock after selling 62,532 shares during the period. Thrivent Financial for Lutherans’ holdings in Crescent Energy were worth $1,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Crescent Energy by 50.2% in the third 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 period. Osaic Holdings Inc. boosted its stake 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 in the last quarter. MQS Management LLC acquired a new position in Crescent Energy during the second quarter worth about $91,000. Focus Partners Advisor Solutions LLC purchased a new position in Crescent Energy in the 2nd quarter valued at approximately $97,000. Finally, NewEdge Advisors LLC raised its stake in shares of Crescent Energy by 1,227.9% during the 2nd quarter. NewEdge Advisors LLC now owns 11,951 shares of the company’s stock worth $103,000 after buying an additional 11,051 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 4.1%

Shares of NYSE:CRGY opened at $10.23 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -68.17 and a beta of 1.73. The stock’s 50-day moving average price is $8.90 and its two-hundred day moving average price is $8.95. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $15.58.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRGY shares. Wall Street Zen lowered shares of Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company lowered their target price on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. Mizuho raised their price target on Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Zacks Research upgraded Crescent Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Evercore started coverage on Crescent Energy in a research note on Tuesday, December 16th. They set an “outperform” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.27.

About Crescent Energy

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.