Crescent Energy (NYSE:CRGY) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 458.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,942 shares of the company's stock after buying an additional 80,397 shares during the quarter. State of Tennessee Department of Treasury's holdings in Crescent Energy were worth $1,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRGY. Jones Financial Companies Lllp boosted its position in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after purchasing an additional 2,377 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Crescent Energy during the 4th quarter worth approximately $131,000. PNC Financial Services Group Inc. lifted its position 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 valued at $152,000 after acquiring an additional 8,942 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in Crescent Energy in the fourth quarter valued at approximately $174,000. 52.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRGY. Mizuho boosted their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Citigroup cut Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Wells Fargo & Company cut their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Williams Trading set a $16.00 target price on Crescent Energy in a report on Wednesday, March 5th. Finally, Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Crescent Energy currently has an average rating of "Moderate Buy" and a consensus target price of $16.80.

Crescent Energy Stock Performance

Shares of CRGY stock traded up $0.11 during mid-day trading on Friday, hitting $8.60. 4,495,685 shares of the stock were exchanged, compared to its average volume of 3,297,469. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. 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 stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 13.87 and a beta of 1.88. The stock's fifty day simple moving average is $9.83 and its two-hundred day simple moving average is $12.85.

Crescent Energy Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's payout ratio is currently -69.57%.

Insider Transactions at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Duginski purchased 4,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now owns 233,607 shares of the company's stock, valued at approximately $2,424,840.66. This represents a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 24,932 shares of company stock worth $263,219 over the last 90 days. 13.20% of the stock is currently owned by 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.