Principal Financial Group Inc. Has $12.38 Million Position in Crescent Energy (NYSE:CRGY)

Principal Financial Group Inc. lifted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 7,793.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 847,549 shares of the company's stock after purchasing an additional 836,812 shares during the quarter. Principal Financial Group Inc. owned 0.37% of Crescent Energy worth $12,383,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Crescent Energy by 126.2% during the 4th quarter. Rhumbline Advisers now owns 485,475 shares of the company's stock worth $7,093,000 after buying an additional 270,859 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Crescent Energy during the fourth quarter worth approximately $798,000. Louisiana State Employees Retirement System acquired a new stake in Crescent Energy in the fourth quarter worth approximately $1,233,000. Empowered Funds LLC boosted its stake in Crescent Energy by 5.1% during the 4th quarter. Empowered Funds LLC now owns 972,725 shares of the company's stock valued at $14,212,000 after purchasing an additional 47,424 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Crescent Energy during the 4th quarter valued at $1,450,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRGY. Raymond James upped their price objective on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating for the company. Mizuho lifted 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. Truist Financial increased their target price 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 restated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $17.60.

Crescent Energy Stock Down 8.6 %

NYSE:CRGY traded down $1.09 during trading hours on Monday, hitting $11.54. 3,790,029 shares of the stock traded hands, compared to its average volume of 2,536,192. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 18.56 and a beta of 2.16. The firm has a 50 day moving average price of $15.06 and a 200 day moving average price of $13.52. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 4.16%. Crescent Energy's payout ratio is presently -69.57%.

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.