Illinois Municipal Retirement Fund Takes $1.19 Million Position in Crescent Energy (NYSE:CRGY)

Illinois Municipal Retirement Fund bought a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 81,750 shares of the company's stock, valued at approximately $1,194,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRGY. Farther Finance Advisors LLC lifted its holdings in shares of Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock valued at $35,000 after buying an additional 3,135 shares during the period. Amalgamated Bank raised its position in Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock valued at $54,000 after acquiring an additional 2,272 shares in the last quarter. GAMMA Investing LLC raised its position in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after acquiring an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in Crescent Energy in the fourth quarter valued at approximately $131,000. Finally, Zacks Investment Management purchased a new stake in Crescent Energy in the 3rd quarter worth approximately $121,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRGY. Mizuho boosted their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Stephens reiterated an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Monday. Raymond James raised their target price on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Siebert Williams Shank initiated coverage on Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating for the company. Finally, Truist Financial raised their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $17.60.

Crescent Energy Price Performance

Shares of CRGY traded down $1.03 during trading hours on Monday, hitting $11.59. 5,321,032 shares of the stock were exchanged, compared to its average volume of 2,583,878. The stock's 50-day moving average price is $15.06 and its two-hundred day moving average price is $13.52. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 18.69 and a beta of 2.16.

Crescent Energy Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's payout ratio is -69.57%.

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.