AMH Equity Ltd Invests $1.46 Million in Crescent Energy (NYSE:CRGY)

AMH Equity Ltd purchased a new stake in Crescent Energy (NYSE:CRGY) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 100,000 shares of the company’s stock, valued at approximately $1,461,000. Crescent Energy comprises about 1.4% of AMH Equity Ltd’s holdings, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRGY. State Street Corp grew its holdings in Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after acquiring an additional 2,986,468 shares during the period. Empowered Funds LLC boosted its position in shares of Crescent Energy by 11.4% in the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock worth $10,132,000 after purchasing an additional 94,948 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock worth $36,741,000 after purchasing an additional 1,164,306 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Crescent Energy during the fourth quarter worth $1,233,000. Finally, Royce & Associates LP bought a new stake in Crescent Energy in the third quarter valued at about $11,146,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Down 1.5 %

CRGY stock opened at $13.48 on Thursday. The business has a 50-day moving average of $15.09 and a 200-day moving average of $13.48. 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 stock has a market capitalization of $3.08 billion, a P/E ratio of 21.74 and a beta of 2.16. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

Wall Street Analyst Weigh In

CRGY has been the topic of a number of recent analyst reports. Mizuho raised their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Truist Financial lifted their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James boosted their price objective 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. Finally, Siebert Williams Shank began coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.