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

American Century Companies Inc. boosted its position in Crescent Energy (NYSE:CRGY - Free Report) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its holdings in Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the last quarter. Geode Capital Management LLC grew its position in Crescent Energy by 53.2% in the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock valued at $36,741,000 after acquiring an additional 1,164,306 shares during the period. Amalgamated Bank grew its holdings in shares of Crescent Energy by 919.0% in the 4th quarter. Amalgamated Bank now owns 49,961 shares of the company's stock worth $730,000 after purchasing an additional 45,058 shares during the last quarter. M&T Bank Corp acquired a new stake in Crescent Energy during the 4th quarter valued at $683,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Crescent Energy by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 756,002 shares of the company's stock valued at $11,045,000 after buying an additional 47,797 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

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Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the purchase, the director now 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. Over the last three months, insiders have purchased 24,932 shares of company stock valued at $263,219. Insiders own 13.20% of the company's stock.

Crescent Energy Price Performance

NYSE CRGY traded down $0.09 during trading hours on Tuesday, reaching $11.57. 2,398,791 shares of the stock traded hands, compared to its average volume of 2,926,222. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $13.86 and a two-hundred day simple moving average of $13.48. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 18.66 and a beta of 2.18.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Wednesday, March 12th. Crescent Energy's payout ratio is -69.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRGY shares. Raymond James increased their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $16.00 target price on Crescent Energy in a research note on Wednesday, March 5th. Truist Financial lifted their target price on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Mizuho boosted their price target on Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.