Peregrine Capital Management LLC Decreases Stake in Crescent Energy (NYSE:CRGY)

Peregrine Capital Management LLC lowered its position in Crescent Energy (NYSE:CRGY) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 372,396 shares of the company’s stock after selling 112,690 shares during the quarter. Peregrine Capital Management LLC’s holdings in Crescent Energy were worth $5,441,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in shares of Crescent Energy during the 4th quarter worth approximately $170,905,000. State Street Corp lifted its position in shares of 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 buying an additional 2,986,468 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock worth $69,914,000 after buying an additional 3,354,362 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock worth $40,501,000 after buying an additional 33,626 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock worth $36,741,000 after buying an additional 1,164,306 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of CRGY opened at $15.15 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $3.46 billion, a P/E ratio of 24.43 and a beta of 2.16. The company’s fifty day moving average is $15.08 and its two-hundred day moving average is $13.34. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating for the company. Stephens boosted their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Mizuho upped their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Raymond James upped 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. Finally, Truist Financial upped 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. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.50.

About Crescent Energy

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.