California State Teachers Retirement System Boosts Stake in Crescent Energy (NYSE:CRGY)

California State Teachers Retirement System raised its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,917 shares of the company's stock after purchasing an additional 42,253 shares during the period. California State Teachers Retirement System owned approximately 0.07% of Crescent Energy worth $2,629,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRGY. Public Employees Retirement System of Ohio raised its position in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after purchasing an additional 705 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after buying an additional 2,377 shares in the last quarter. Quarry LP increased its holdings in shares of Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after buying an additional 3,155 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Crescent Energy during the fourth quarter worth $146,000. Finally, PNC Financial Services Group Inc. increased its holdings in Crescent Energy by 619.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after purchasing an additional 8,942 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Up 4.1%

Shares of CRGY traded up $0.36 on Friday, reaching $9.03. The company's stock had a trading volume of 2,000,140 shares, compared to its average volume of 3,367,907. The company has a current ratio of 0.93, a quick 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 $2.30 billion, a PE ratio of 14.56 and a beta of 1.75. The firm has a fifty day moving average of $8.53 and a 200-day moving average of $12.12.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The company had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Equities analysts predict that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.32%. Crescent Energy's dividend payout ratio is presently -106.67%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Mizuho decreased their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. Raymond James reaffirmed a "strong-buy" rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Citigroup cut shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, KeyCorp cut their price objective on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

Insider Buying and Selling

In other news, Director Michael Duginski acquired 20,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the purchase, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This represents a 8.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders have acquired 24,932 shares of company stock worth $263,219 in the last quarter. 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.