Crescent Energy Company (NYSE:CRGY) Stake Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Crescent Energy Company (NYSE:CRGY) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 101,342 shares of the company’s stock after purchasing an additional 2,082 shares during the period. State of Alaska Department of Revenue’s holdings in Crescent Energy were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CRGY. Public Employees Retirement System of Ohio increased its position in Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after buying an additional 705 shares during the period. Hsbc Holdings PLC increased its position in Crescent Energy by 4.3% in the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock worth $276,000 after buying an additional 785 shares during the period. Dark Forest Capital Management LP increased its position in Crescent Energy by 4.0% in the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company’s stock worth $487,000 after buying an additional 1,282 shares during the period. Yousif Capital Management LLC increased its position in Crescent Energy by 2.1% in the first quarter. Yousif Capital Management LLC now owns 66,806 shares of the company’s stock worth $751,000 after buying an additional 1,382 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Crescent Energy by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company’s stock worth $354,000 after buying an additional 2,306 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRGY has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 16th. Mizuho dropped their target price on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Williams Trading set a $16.00 target price on Crescent Energy in a research report on Wednesday, March 5th. Finally, Stephens reissued an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Crescent Energy has an average rating of “Moderate Buy” and an average target price of $16.00.

Crescent Energy Price Performance

Shares of CRGY opened at $8.62 on Thursday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -19.16 and a beta of 1.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.78 and a current ratio of 0.78. Crescent Energy Company has a one year low of $6.83 and a one year high of $16.94. The stock’s fifty day moving average is $8.82 and its 200-day moving average is $11.63.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. Crescent Energy had a positive return on equity of 14.21% and a negative net margin of 2.88%. The company had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Equities analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.57%. Crescent Energy’s dividend payout ratio is currently -106.67%.

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.