Thrivent Financial for Lutherans Acquires Shares of 204,053 Crescent Energy (NYSE:CRGY)

Thrivent Financial for Lutherans purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 204,053 shares of the company's stock, valued at approximately $2,981,000. Thrivent Financial for Lutherans owned approximately 0.09% of Crescent Energy at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after purchasing an additional 2,377 shares during the period. GAMMA Investing LLC lifted its position in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after buying an additional 1,621 shares during the period. Zacks Investment Management purchased a new position in Crescent Energy during the third quarter worth about $121,000. Toth Financial Advisory Corp acquired a new stake in Crescent Energy in the 4th quarter worth about $131,000. Finally, PNC Financial Services Group Inc. grew its holdings in Crescent Energy by 619.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after buying an additional 8,942 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James reissued 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. Wells Fargo & Company lowered their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.09.

Insider Buying and Selling

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $10.57 per share, with a total value of $211,400.00. Following the acquisition, the director now directly owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 24,932 shares of company stock valued at $263,219 over the last three months. Company insiders own 13.20% of the company's stock.

Crescent Energy Price Performance

CRGY stock traded down $0.15 during trading on Friday, hitting $11.13. The company had a trading volume of 1,979,455 shares, compared to its average volume of 3,046,059. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 17.94 and a beta of 2.18. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The business has a 50 day moving average of $13.43 and a 200 day moving average of $13.51. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.31%. Crescent Energy's dividend payout ratio is currently -69.57%.

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.