Intech Investment Management LLC Buys 22,718 Shares of Crescent Energy (NYSE:CRGY)

Intech Investment Management LLC raised its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 71.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,719 shares of the company's stock after buying an additional 22,718 shares during the period. Intech Investment Management LLC's holdings in Crescent Energy were worth $799,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its position 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 valued at $52,000 after acquiring an additional 2,377 shares during the last quarter. GAMMA Investing LLC raised 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 worth $73,000 after purchasing an additional 1,621 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of Crescent Energy during the fourth quarter valued at $131,000. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 8,942 shares during the period. Finally, Zacks Investment Management purchased a new position in Crescent Energy in the 3rd quarter worth about $121,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRGY shares. Mizuho raised their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Siebert Williams Shank initiated coverage on Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating for the company. Citigroup downgraded Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Raymond James lifted their target price on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Crescent Energy presently has an average rating of "Moderate Buy" and an average target price of $17.55.

Crescent Energy Stock Down 2.0 %

Shares of NYSE CRGY traded down $0.23 during trading hours on Thursday, hitting $11.25. The stock had a trading volume of 2,493,903 shares, compared to its average volume of 2,935,995. The firm's 50-day moving average price is $13.65 and its two-hundred day moving average price is $13.48. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The company has a market capitalization of $2.91 billion, a P/E ratio of 18.14 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.27%. Crescent Energy's dividend payout ratio is currently -69.57%.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Duginski bought 4,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the acquisition, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 24,932 shares of company stock worth $263,219. Corporate insiders own 13.20% of the company's stock.

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.