Intech Investment Management LLC Has $799,000 Stake in Crescent Energy (NYSE:CRGY)

Intech Investment Management LLC boosted its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 71.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,719 shares of the company's stock after acquiring an additional 22,718 shares during the quarter. Intech Investment Management LLC's holdings in Crescent Energy were worth $799,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CRGY. Jones Financial Companies Lllp lifted its position in shares of Crescent Energy by 206.7% during the fourth 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after buying an additional 1,621 shares in the last quarter. Zacks Investment Management bought a new position in Crescent Energy in the 3rd quarter valued at $121,000. Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy in the 4th quarter valued at $131,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock worth $152,000 after acquiring an additional 8,942 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 0.2 %

Crescent Energy stock traded down $0.03 during mid-day trading on Tuesday, hitting $11.64. 1,893,523 shares of the company's stock were exchanged, compared to its average volume of 2,926,222. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $3.01 billion, a P/E ratio of 18.75 and a beta of 2.18. The company's 50 day simple moving average is $13.86 and its 200-day simple moving average is $13.48.

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Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is presently -69.57%.

Wall Street Analyst Weigh In

CRGY has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday. Raymond James raised their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 23rd. 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. Truist Financial raised their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.55.

Insider Activity at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Duginski bought 4,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the transaction, the director now owns 233,607 shares of the company's stock, valued at $2,424,840.66. The trade was a 1.74 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by company insiders.

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.