Principal Financial Group Inc. Purchases 62,622 Shares of Crescent Energy Company (NYSE:CRGY)

Principal Financial Group Inc. grew its holdings in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 910,171 shares of the company's stock after purchasing an additional 62,622 shares during the period. Principal Financial Group Inc. owned about 0.35% of Crescent Energy worth $10,230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CRGY. Public Employees Retirement System of Ohio boosted 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 acquiring an additional 705 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after acquiring an additional 2,377 shares in the last quarter. Quarry LP boosted its position in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after acquiring an additional 3,155 shares in the last quarter. KBC Group NV acquired a new stake in shares of Crescent Energy during the 1st quarter worth approximately $117,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Crescent Energy during the 4th quarter worth approximately $146,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRGY shares. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Raymond James Financial reissued a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. KeyCorp dropped their price objective 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. Piper Sandler increased their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Mizuho dropped their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One 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 an average target price of $16.09.

Crescent Energy Trading Up 2.5%

Shares of CRGY stock traded up $0.21 during trading hours on Thursday, hitting $8.44. 3,897,869 shares of the company's stock traded hands, compared to its average volume of 3,460,811. The stock's 50 day simple moving average is $8.99 and its 200 day simple moving average is $11.06. The stock has a market cap of $2.15 billion, a PE ratio of -18.74 and a beta of 1.74. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.10.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. On average, sell-side analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.69%. The ex-dividend date was Monday, May 19th. Crescent Energy's payout ratio is currently -106.67%.

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.