Maryland State Retirement & Pension System purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,167 shares of the company's stock, valued at approximately $864,000.
Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after buying an additional 2,377 shares during the last quarter. GAMMA Investing LLC boosted its position in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after purchasing an additional 1,621 shares during the last quarter. Zacks Investment Management purchased a new position in Crescent Energy in the third quarter worth $121,000. Toth Financial Advisory Corp bought a new position in Crescent Energy in the 4th quarter valued at $131,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after purchasing an additional 8,942 shares during the last quarter. 52.11% of the stock is owned by institutional investors.
Crescent Energy Price Performance
Shares of Crescent Energy stock traded down $0.01 on Tuesday, reaching $11.66. The stock had a trading volume of 1,958,131 shares, compared to its average volume of 2,926,222. The business's 50 day moving average is $13.86 and its two-hundred day moving average is $13.48. 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 1 year low of $9.88 and a 1 year high of $16.94. The company has a market cap of $3.01 billion, a P/E ratio of 18.83 and a beta of 2.18.
Crescent Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's dividend payout ratio is presently -69.57%.
Analysts Set New Price Targets
Several brokerages have commented on CRGY. Raymond James lifted their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a research report on Thursday, January 23rd. Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. 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. Williams Trading set a $16.00 price objective on Crescent Energy in a report on Wednesday, March 5th. Finally, Truist Financial upped their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.55.
View Our Latest Report on CRGY
Insider Buying and Selling at Crescent Energy
In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Duginski acquired 4,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $10.38 per share, with a total value of $41,520.00. Following the acquisition, the director now directly owns 233,607 shares of the company's stock, valued at $2,424,840.66. This represents a 1.74 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 24,932 shares of company stock valued at $263,219 in the last three months. Company insiders own 13.20% of the company's stock.
About Crescent Energy
(
Free Report)
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.
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