State of Tennessee Department of Treasury Has $1.43 Million Holdings in Crescent Energy (NYSE:CRGY)

State of Tennessee Department of Treasury increased its position in shares of Crescent Energy (NYSE:CRGY) by 458.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,942 shares of the company’s stock after buying an additional 80,397 shares during the period. State of Tennessee Department of Treasury’s holdings in Crescent Energy were worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Crescent Energy by 579.6% during the 3rd quarter. Barclays PLC now owns 241,137 shares of the company’s stock worth $2,641,000 after purchasing an additional 205,657 shares during the last quarter. GAMMA Investing LLC increased its position in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after buying an additional 1,621 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Crescent Energy in the fourth quarter valued at approximately $312,000. Harbor Capital Advisors Inc. lifted its position in shares of Crescent Energy by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock valued at $553,000 after buying an additional 897 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new position in shares of Crescent Energy during the 4th quarter worth approximately $131,000. 52.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRGY. Truist Financial increased their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Raymond James reissued a “strong-buy” rating and issued a $18.00 price target (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Williams Trading set a $16.00 target price on Crescent Energy in a research report on Wednesday, March 5th. Stephens reissued an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and an average price target of $16.80.

Crescent Energy Trading Down 1.5 %

CRGY opened at $8.56 on Wednesday. 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 twelve month low of $6.83 and a twelve month high of $16.94. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 13.81 and a beta of 1.88. The company has a 50-day simple moving average of $10.17 and a 200 day simple moving average of $12.94.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 5.61%. Crescent Energy’s dividend payout ratio (DPR) is -69.57%.

Insider Buying and Selling at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The shares were 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 SEC, which is available through the SEC website. Also, Director Michael Duginski acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $10.38 per share, with a total value of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 24,932 shares of company stock worth $263,219 over the last three months. 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.