Public Sector Pension Investment Board Raises Stock Position in Crescent Energy Company $CRGY

Public Sector Pension Investment Board increased its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 15.7% in the third quarter, Holdings Channel reports. The firm owned 724,991 shares of the company’s stock after acquiring an additional 98,428 shares during the period. Public Sector Pension Investment Board’s holdings in Crescent Energy were worth $6,467,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in shares of Crescent Energy by 25.2% during the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after purchasing an additional 1,066 shares in the last quarter. Yousif Capital Management LLC lifted its position in Crescent Energy by 1.6% during the 2nd quarter. Yousif Capital Management LLC now owns 67,901 shares of the company’s stock worth $584,000 after acquiring an additional 1,095 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after acquiring an additional 1,241 shares during the period. Ameritas Investment Partners Inc. grew its position in Crescent Energy by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 18,272 shares of the company’s stock valued at $157,000 after acquiring an additional 1,269 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Crescent Energy by 8.9% during the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $10.29 on Thursday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -68.58 and a beta of 1.73. Crescent Energy Company has a one year low of $6.83 and a one year high of $15.58. The company’s 50-day simple moving average is $8.92 and its 200-day simple moving average is $8.97. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.81 and a current ratio of 0.81.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRGY shares. Mizuho upped their target price on shares of Crescent Energy from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group restated a “hold” rating and set a $9.00 target price on shares of Crescent Energy in a research note on Sunday, January 25th. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research raised Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, BMO Capital Markets assumed coverage on Crescent Energy in a report on Friday, January 9th. They set a “market perform” rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Crescent Energy has an average rating of “Hold” and a consensus target price of $13.27.

About Crescent Energy

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.