State of Tennessee Department of Treasury Purchases 80,397 Shares of Crescent Energy (NYSE:CRGY)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after acquiring an additional 2,377 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after purchasing an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy during the fourth quarter worth $131,000. PNC Financial Services Group Inc. raised its stake in Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock worth $152,000 after buying an additional 8,942 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in Crescent Energy in the fourth quarter valued at $174,000. 52.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CRGY shares. Wells Fargo & Company decreased their price target on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, KeyCorp decreased their price target on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $8.56 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day simple moving average is $10.17 and its 200 day simple moving average is $12.94. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 13.81 and a beta of 1.88. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94.

Crescent Energy Announces Dividend

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

Insider Transactions at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business’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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Duginski purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares of the company’s stock, valued at $2,744,045.99. The trade was a 8.35 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 24,932 shares of company stock worth $263,219 in the last quarter. 13.20% of the stock is currently owned by corporate insiders.

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.