Mutual of America Capital Management LLC Makes New Investment in Crescent Energy (NYSE:CRGY)

Mutual of America Capital Management LLC acquired a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,457 shares of the company's stock, valued at approximately $387,000.

A number of other hedge funds have also recently made changes to their positions in CRGY. Farther Finance Advisors LLC boosted its position in shares of Crescent Energy by 15,675.0% during the third 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 last quarter. Amalgamated Bank lifted its stake in Crescent Energy by 86.4% during the 3rd 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. Victory Capital Management Inc. boosted its holdings in Crescent Energy by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company's stock worth $7,755,000 after acquiring an additional 46,448 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Crescent Energy in the 3rd quarter worth $11,146,000. Finally, Empowered Funds LLC raised its holdings in shares of Crescent Energy by 11.4% in the third quarter. Empowered Funds LLC now owns 925,301 shares of the company's stock valued at $10,132,000 after purchasing an additional 94,948 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating for the company. Williams Trading set a $16.00 price target on Crescent Energy in a research report on Wednesday, March 5th. Citigroup lowered Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have issued 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 $17.45.

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Crescent Energy Stock Performance

Shares of NYSE:CRGY traded down $0.23 during trading on Thursday, hitting $10.49. 3,789,072 shares of the company were exchanged, compared to its average volume of 2,992,705. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a market cap of $2.71 billion, a PE ratio of 16.91 and a beta of 2.18. The stock has a 50 day moving average of $14.55 and a 200 day moving average of $13.49.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.58%. Crescent Energy's dividend payout ratio is -69.57%.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy 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 legal filing with the SEC, which is accessible through this hyperlink. 13.20% of the stock is currently 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.