Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $545,000 in Crescent Energy (NYSE:CRGY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,286 shares of the company's stock, valued at approximately $545,000.

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

Insider Transactions at Crescent Energy

In other Crescent Energy news, Director Michael Duginski purchased 20,000 shares of Crescent Energy stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the transaction, the director now owns 259,607 shares of the company's stock, valued at $2,744,045.99. The trade was a 8.35 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Over the last quarter, insiders bought 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company's stock.

Crescent Energy Stock Performance

Shares of NYSE CRGY traded up $0.10 during mid-day trading on Monday, hitting $11.24. The company had a trading volume of 4,443,957 shares, compared to its average volume of 3,051,631. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 18.13 and a beta of 2.18. The firm's 50 day simple moving average is $13.32 and its two-hundred day simple moving average is $13.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is -69.57%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRGY shares. Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Raymond James reaffirmed a "strong-buy" rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research report on Friday. Citigroup downgraded Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Truist Financial upped their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.09.

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.