American Century Companies Inc. Purchases 1,436,084 Shares of Crescent Energy (NYSE:CRGY)

American Century Companies Inc. grew its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,700,925 shares of the company's stock after purchasing an additional 1,436,084 shares during the period. American Century Companies Inc. owned approximately 5.56% of Crescent Energy worth $185,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CRGY. Quantbot Technologies LP boosted its stake in Crescent Energy by 27.6% in the fourth quarter. Quantbot Technologies LP now owns 182,755 shares of the company's stock valued at $2,670,000 after acquiring an additional 39,492 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Crescent Energy during the fourth quarter worth about $545,000. Maryland State Retirement & Pension System acquired a new stake in Crescent Energy in the fourth quarter valued at $864,000. Xponance Inc. acquired a new position in Crescent Energy during the fourth quarter worth about $308,000. Finally, Intech Investment Management LLC boosted its stake in shares of Crescent Energy by 71.0% during the fourth quarter. Intech Investment Management LLC now owns 54,719 shares of the company's stock valued at $799,000 after acquiring an additional 22,718 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Insider Buying and Selling

In other news, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the transaction, the director now directly owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction dated Monday, March 10th. The shares were 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 three months, insiders have acquired 24,932 shares of company stock valued at $263,219. 13.20% of the stock is owned by company insiders.

Crescent Energy Stock Down 2.0 %

Shares of CRGY traded down $0.23 during mid-day trading on Thursday, hitting $11.25. 2,493,903 shares of the company's stock were exchanged, compared to its average volume of 2,935,995. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The company has a 50-day simple moving average of $13.65 and a 200 day simple moving average of $13.48. The company has a market cap of $2.91 billion, a PE ratio of 18.14 and a beta of 2.18. 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 Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's dividend payout ratio is presently -69.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRGY shares. Truist Financial increased their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Williams Trading set a $16.00 price target on Crescent Energy in a report on Wednesday, March 5th. Siebert Williams Shank started coverage on Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Mizuho increased 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. Finally, JPMorgan Chase & Co. cut their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of "Moderate Buy" and an average target price of $17.55.

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.