Maryland State Retirement & Pension System Buys Shares of 59,167 Crescent Energy (NYSE:CRGY)

Maryland State Retirement & Pension System purchased a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,167 shares of the company's stock, valued at approximately $864,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRGY. Quest Partners LLC purchased a new position in shares of Crescent Energy during the 3rd quarter worth approximately $189,000. Intech Investment Management LLC bought a new stake in Crescent Energy in the third quarter worth $350,000. Landscape Capital Management L.L.C. bought a new position in shares of Crescent Energy during the third quarter valued at $155,000. Charles Schwab Investment Management Inc. boosted its stake in Crescent Energy by 59.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company's stock worth $17,370,000 after purchasing an additional 589,665 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Crescent Energy by 335.1% in the third quarter. Citigroup Inc. now owns 343,940 shares of the company's stock worth $3,766,000 after buying an additional 264,883 shares during the last quarter. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

NYSE CRGY traded down $0.23 on Thursday, reaching $11.25. The company had a trading volume of 2,493,903 shares, compared to its average volume of 2,935,995. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm's 50 day moving average price is $13.65 and its 200 day moving average price is $13.48. The stock has a market capitalization of $2.91 billion, a PE ratio of 18.14 and a beta of 2.18.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.27%. The ex-dividend date was Wednesday, March 12th. Crescent Energy's dividend payout ratio is presently -69.57%.

Analyst Ratings Changes

Several research firms have issued reports on CRGY. Mizuho upped 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. JPMorgan Chase & Co. lowered their price target on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Stephens reiterated an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Wells Fargo & Company dropped their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Raymond James increased 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 note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.55.

Insider Activity at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Duginski bought 4,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. This represents a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,932 shares of company stock valued at $263,219 over the last 90 days. 13.20% of the stock is owned by corporate insiders.

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.