Louisiana State Employees Retirement System Makes New Investment in Crescent Energy (NYSE:CRGY)

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

A number of other hedge funds have also recently modified their holdings of CRGY. State Street Corp increased its position in shares of Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after purchasing an additional 2,986,468 shares in the last quarter. Empowered Funds LLC increased its position in Crescent Energy by 11.4% in the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock valued at $10,132,000 after acquiring an additional 94,948 shares during the period. Geode Capital Management LLC increased its position 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 acquiring an additional 1,164,306 shares during the period. Royce & Associates LP acquired a new position in Crescent Energy in the 3rd quarter valued at about $11,146,000. Finally, Phocas Financial Corp. acquired a new position in Crescent Energy in the 3rd quarter valued at about $3,400,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Mizuho boosted their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their price target 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. Pickering Energy Partners assumed coverage on Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating on the stock. Truist Financial boosted their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note 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 research note 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 company currently has a consensus rating of “Buy” and a consensus price target of $17.50.

Crescent Energy Trading Up 2.5 %

CRGY stock opened at $14.89 on Monday. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 24.01 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 business has a fifty day simple moving average of $15.06 and a 200-day simple moving average of $13.28. Crescent Energy has a 52 week low of $9.88 and a 52 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.