Olympiad Research LP Makes New Investment in Crescent Energy (NYSE:CRGY)

Olympiad Research LP acquired a new position in shares of Crescent Energy (NYSE:CRGY) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 11,882 shares of the company’s stock, valued at approximately $174,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc bought a new stake in Crescent Energy during the 4th quarter worth approximately $248,000. Principal Financial Group Inc. grew its holdings in shares of Crescent Energy by 7,793.7% in the fourth quarter. Principal Financial Group Inc. now owns 847,549 shares of the company’s stock valued at $12,383,000 after acquiring an additional 836,812 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Crescent Energy by 126.2% in the fourth quarter. Rhumbline Advisers now owns 485,475 shares of the company’s stock valued at $7,093,000 after acquiring an additional 270,859 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Crescent Energy in the fourth quarter valued at approximately $798,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Crescent Energy in the fourth quarter valued at approximately $1,233,000. 52.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRGY has been the subject of several recent analyst reports. Pickering Energy Partners initiated coverage on Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating for the company. Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Stephens upped their target price on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Truist Financial upped their target price on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Raymond James upped their target price on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.50.

Crescent Energy Price Performance

Crescent Energy stock opened at $14.29 on Monday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 23.04 and a beta of 2.16. The business’s 50 day simple moving average is $15.09 and its 200 day simple moving average is $13.43. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy 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.