State of Alaska Department of Revenue Makes New Investment in Crescent Energy (NYSE:CRGY)

State of Alaska Department of Revenue bought a new position in Crescent Energy (NYSE:CRGY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 99,260 shares of the company’s stock, valued at approximately $1,450,000.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after purchasing an additional 3,135 shares during the period. Amalgamated Bank grew its stake in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares during the period. Zacks Investment Management bought a new position in shares of Crescent Energy during the 3rd quarter valued at approximately $121,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Crescent Energy during the 4th quarter valued at approximately $131,000. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRGY. Siebert Williams Shank began coverage on Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating for the company. Stephens boosted their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. 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 note on Thursday, January 23rd. Wells Fargo & Company dropped their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Pickering Energy Partners started coverage on Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $17.50.

Crescent Energy Stock Down 3.5 %

Shares of CRGY opened at $14.50 on Thursday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 23.39 and a beta of 2.16. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94. The business’s 50 day simple moving average is $15.04 and its 200-day simple moving average is $13.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.

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.