Louisiana State Employees Retirement System Invests $1.23 Million in Crescent Energy (NYSE:CRGY)

Louisiana State Employees Retirement System bought a new stake in Crescent Energy (NYSE:CRGY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 84,400 shares of the company's stock, valued at approximately $1,233,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in Crescent Energy by 5.1% in the 4th quarter. Empowered Funds LLC now owns 972,725 shares of the company's stock valued at $14,212,000 after purchasing an additional 47,424 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Crescent Energy in the fourth quarter worth $1,450,000. Yousif Capital Management LLC acquired a new position in shares of Crescent Energy in the fourth quarter worth $956,000. Jennison Associates LLC grew its stake in shares of Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after acquiring an additional 3,354,362 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Crescent Energy by 9.9% in the fourth quarter. DAVENPORT & Co LLC now owns 89,000 shares of the company's stock worth $1,300,000 after acquiring an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Stephens boosted their price target 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. Raymond James boosted their price target on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 23rd. Pickering Energy Partners began coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an "outperform" rating for the company. Finally, Mizuho lifted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $17.50.

Crescent Energy Stock Performance

CRGY traded down $0.16 on Thursday, reaching $15.03. The company had a trading volume of 2,067,538 shares, compared to its average volume of 2,272,347. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94. The stock has a market capitalization of $3.43 billion, a PE ratio of 24.23 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. The stock has a 50-day moving average price of $15.09 and a 200-day moving average price of $13.35.

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.