State of Alaska Department of Revenue Invests $1.45 Million in Crescent Energy (NYSE:CRGY)

State of Alaska Department of Revenue bought a new position in Crescent Energy (NYSE:CRGY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 99,260 shares of the company’s stock, valued at approximately $1,450,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRGY. Farther Finance Advisors LLC grew its holdings in shares of Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares during the last quarter. Zacks Investment Management bought a new position in shares of Crescent Energy in the third quarter worth approximately $121,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Crescent Energy in the fourth quarter worth approximately $131,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

CRGY opened at $14.50 on Thursday. The stock has a 50-day moving average price of $15.04 and a 200-day moving average price of $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. The firm has a market cap of $3.31 billion, a PE 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.

Analysts Set New Price Targets

Several analysts recently weighed in on CRGY shares. Truist Financial lifted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Raymond James lifted their price target on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. Pickering Energy Partners started coverage on shares of Crescent Energy in a report on Monday, October 28th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and a consensus target price of $17.50.

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.