Prudential Financial Inc. Raises Position in Crescent Energy (NYSE:CRGY)

Prudential Financial Inc. increased its stake in Crescent Energy (NYSE:CRGY - Free Report) by 37.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,026 shares of the company's stock after buying an additional 48,395 shares during the period. Prudential Financial Inc. owned 0.08% of Crescent Energy worth $2,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRGY. Charles Schwab Investment Management Inc. increased its stake in Crescent Energy by 59.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company's stock valued at $17,370,000 after purchasing an additional 589,665 shares in the last quarter. Citigroup Inc. increased its position in shares of Crescent Energy by 335.1% during the third quarter. Citigroup Inc. now owns 343,940 shares of the company's stock valued at $3,766,000 after acquiring an additional 264,883 shares in the last quarter. FMR LLC raised its holdings in Crescent Energy by 191.1% in the 3rd quarter. FMR LLC now owns 657,337 shares of the company's stock worth $7,198,000 after acquiring an additional 431,497 shares during the last quarter. MetLife Investment Management LLC lifted its position in Crescent Energy by 43.0% in the 3rd quarter. MetLife Investment Management LLC now owns 79,786 shares of the company's stock valued at $874,000 after acquiring an additional 23,990 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Crescent Energy by 94.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,550 shares of the company's stock valued at $532,000 after purchasing an additional 23,556 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski purchased 20,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the acquisition, the director now directly owns 259,607 shares of the company's stock, valued at $2,744,045.99. This represents a 8.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company'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 value of $29,221,844.93. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 24,932 shares of company stock valued at $263,219. Corporate insiders own 13.20% of the company's stock.

Crescent Energy Price Performance

CRGY stock traded down $0.62 during midday trading on Tuesday, hitting $7.27. The company's stock had a trading volume of 5,185,413 shares, compared to its average volume of 3,105,627. 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 $7.13 and a 12 month high of $16.94. The company has a 50 day moving average of $12.32 and a two-hundred day moving average of $13.39. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.72 and a beta of 1.88.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.61%. Crescent Energy's dividend payout ratio is -69.57%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stephens reaffirmed an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Siebert Williams Shank assumed coverage on Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating for the company. JPMorgan Chase & Co. dropped their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, Williams Trading set a $16.00 price target on Crescent Energy in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy presently has an average rating of "Moderate Buy" and a consensus price target of $17.09.

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.