Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys Shares of 37,286 Crescent Energy (NYSE:CRGY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Crescent Energy (NYSE:CRGY) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 37,286 shares of the company’s stock, valued at approximately $545,000.

A number of other institutional investors and hedge funds have also made changes to their positions in 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 purchased a new position in shares of Crescent Energy during the third quarter worth $350,000. Charles Schwab Investment Management Inc. boosted its position in shares of Crescent Energy by 59.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock worth $17,370,000 after buying an additional 589,665 shares during the period. Citigroup Inc. grew its stake in shares of Crescent Energy by 335.1% in the third quarter. Citigroup Inc. now owns 343,940 shares of the company’s stock valued at $3,766,000 after buying an additional 264,883 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Crescent Energy by 0.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after buying an additional 33,626 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $10.38 per share, with a total value of $41,520.00. Following the completion of 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. Over the last ninety days, insiders bought 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by company insiders.

Crescent Energy Price Performance

Shares of CRGY opened at $11.25 on Friday. The firm has a fifty day moving average price of $13.54 and a 200 day moving average price of $13.46. The stock has a market cap of $2.91 billion, a PE ratio of 18.14 and a beta of 2.18. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s payout ratio is currently -69.57%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRGY shares. Mizuho lifted their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price objective 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

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.