California State Teachers Retirement System Acquires 42,253 Shares of Crescent Energy (NYSE:CRGY)

California State Teachers Retirement System raised its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 0.07% of Crescent Energy worth $2,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Crescent Energy during the fourth quarter valued at about $754,000. Public Employees Retirement System of Ohio lifted its position in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after purchasing an additional 705 shares during the last quarter. Neo Ivy Capital Management boosted its stake in Crescent Energy by 547.9% during the 4th quarter. Neo Ivy Capital Management now owns 254,706 shares of the company's stock valued at $3,721,000 after purchasing an additional 215,396 shares during the period. GTS Securities LLC bought a new stake in Crescent Energy during the 4th quarter valued at approximately $465,000. Finally, PharVision Advisers LLC acquired a new stake in Crescent Energy in the 4th quarter valued at approximately $267,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CRGY shares. KeyCorp reduced their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Raymond James restated a "strong-buy" rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Stephens reiterated an "overweight" rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Crescent Energy presently has an average rating of "Moderate Buy" and a consensus price target of $16.09.

Insiders Place Their Bets

In other news, Director Michael Duginski acquired 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 24,932 shares of company stock worth $263,219 over the last three months. 13.20% of the stock is currently owned by corporate insiders.

Crescent Energy Price Performance

NYSE CRGY traded up $0.05 on Monday, reaching $9.08. The company's stock had a trading volume of 3,996,941 shares, compared to its average volume of 3,379,436. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.32 billion, a PE ratio of 14.65 and a beta of 1.75. The business has a 50-day moving average price of $8.53 and a 200 day moving average price of $12.08.

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

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.29%. Crescent Energy's dividend payout ratio is currently -106.67%.

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.