Teachers Retirement System of The State of Kentucky Invests $753,000 in Crescent Energy (NYSE:CRGY)

Teachers Retirement System of The State of Kentucky bought a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,600 shares of the company's stock, valued at approximately $753,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRGY. Vanguard Group Inc. raised its stake in Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Crescent Energy by 12.7% in the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock valued at $185,561,000 after purchasing an additional 1,436,084 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Crescent Energy during the 4th quarter valued at about $170,905,000. Bank of New York Mellon Corp grew its stake in Crescent Energy by 55.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after purchasing an additional 3,305,833 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after buying an additional 3,354,362 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

Insider Activity at Crescent Energy

In related news, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $10.38 per share, with a total value of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares of the company's stock, valued at $2,424,840.66. The trade was a 1.74 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction on 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 bought 24,932 shares of company stock valued at $263,219 over the last 90 days. Corporate insiders own 13.20% of the company's stock.

Crescent Energy Trading Up 1.3 %

Shares of NYSE CRGY traded up $0.11 during mid-day trading on Friday, hitting $8.60. The stock had a trading volume of 4,495,685 shares, compared to its average volume of 3,306,948. The business has a 50 day moving average price of $9.83 and a two-hundred day moving average price of $12.85. The firm has a market cap of $2.22 billion, a P/E ratio of 13.87 and a beta of 1.88. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.58%. Crescent Energy's dividend payout ratio is currently -69.57%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CRGY shares. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating for the company. Truist Financial boosted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their price target on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. KeyCorp reduced 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. Finally, Raymond James reissued a "strong-buy" rating and issued a $18.00 price target (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have issued 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, Crescent Energy presently has an average rating of "Moderate Buy" and an average target price of $16.80.

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.