Legal & General Group Plc Purchases 315,599 Shares of Crescent Energy (NYSE:CRGY)

Legal & General Group Plc grew its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 236.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,219 shares of the company's stock after buying an additional 315,599 shares during the quarter. Legal & General Group Plc owned 0.20% of Crescent Energy worth $6,563,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its holdings in Crescent Energy by 206.7% during the 4th 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 boosted its position in shares of 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 buying an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in Crescent Energy during the fourth quarter worth $131,000. PNC Financial Services Group Inc. raised its position in Crescent Energy by 619.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after buying an additional 8,942 shares during the last quarter. Finally, Olympiad Research LP bought a new position in Crescent Energy during the 4th quarter valued at $174,000. Institutional investors own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho increased their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Stephens reaffirmed an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Raymond James restated a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

Crescent Energy Stock Performance

CRGY traded up $0.08 on Thursday, hitting $8.35. The company's stock had a trading volume of 446,345 shares, compared to its average volume of 3,231,930. The company's 50 day simple moving average is $10.68 and its 200-day simple moving average is $13.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 12 month low of $6.83 and a 12 month high of $16.94. The firm has a market cap of $2.16 billion, a P/E ratio of 13.48 and a beta of 1.88.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.75%. Crescent Energy's payout ratio is -69.57%.

Insider Buying and Selling

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Duginski purchased 4,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the acquisition, the director now owns 233,607 shares of the company's stock, valued at approximately $2,424,840.66. This trade represents a 1.74 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 24,932 shares of company stock valued at $263,219. Corporate insiders own 13.20% of the company's stock.

Crescent Energy 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.