Peregrine Capital Management LLC Trims Stock Position in Crescent Energy (NYSE:CRGY)

Peregrine Capital Management LLC cut its position in shares of Crescent Energy (NYSE:CRGY) by 23.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,396 shares of the company’s stock after selling 112,690 shares during the period. Peregrine Capital Management LLC owned approximately 0.16% of Crescent Energy worth $5,441,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in Crescent Energy by 15,675.0% during 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 period. Amalgamated Bank increased its position in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after acquiring an additional 1,621 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Crescent Energy during the third quarter valued at about $121,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy during the fourth quarter valued at about $131,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 1.8 %

Shares of Crescent Energy stock opened at $15.15 on Wednesday. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a 50 day moving average of $15.08 and a 200 day moving average of $13.34. 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 company has a market capitalization of $3.46 billion, a P/E ratio of 24.43 and a beta of 2.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRGY shares. 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 research report on Thursday, January 23rd. Pickering Energy Partners started coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating for the company. Stephens lifted their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. 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 research report on Monday, January 13th. Finally, Mizuho lifted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average 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.