State of Alaska Department of Revenue Buys Shares of 99,260 Crescent Energy (NYSE:CRGY)

State of Alaska Department of Revenue acquired a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 99,260 shares of the company's stock, valued at approximately $1,450,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new stake in Crescent Energy in the 4th quarter valued at about $170,905,000. State Street Corp grew its holdings in Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after buying an additional 2,986,468 shares during the period. Jennison Associates LLC grew its holdings in Crescent Energy by 234.4% in the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock valued at $69,914,000 after buying an additional 3,354,362 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Crescent Energy by 0.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company's stock valued at $40,501,000 after buying an additional 33,626 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock valued at $36,741,000 after buying an additional 1,164,306 shares during the period. Hedge funds and other institutional investors own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRGY shares. Raymond James lifted their price target on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Mizuho lifted their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Truist Financial lifted their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating on the stock. Two investment 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 MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $17.50.

Crescent Energy Stock Up 2.5 %

Crescent Energy stock traded up $0.37 during midday trading on Friday, hitting $14.89. 2,025,239 shares of the company were exchanged, compared to its average volume of 2,183,427. The company's fifty day moving average price is $15.06 and its 200-day moving average price is $13.28. The company has a market cap of $3.40 billion, a PE ratio of 24.01 and a beta of 2.16. 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 has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

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.