Arizona State Retirement System Acquires 3,100 Shares of Crescent Energy (NYSE:CRGY)

Arizona State Retirement System raised its holdings in shares of Crescent Energy (NYSE:CRGY) by 7.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 45,051 shares of the company’s stock after acquiring an additional 3,100 shares during the period. Arizona State Retirement System’s holdings in Crescent Energy were worth $658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares during the last quarter. Jones Financial Companies Lllp raised 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 valued at $52,000 after acquiring an additional 2,377 shares during the last quarter. Amalgamated Bank raised its position in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after acquiring an additional 1,621 shares during the last quarter. Finally, Zacks Investment Management bought a new stake in shares of Crescent Energy during the 3rd quarter valued at $121,000. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CRGY shares. Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. decreased 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. Truist Financial boosted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Williams Trading set a $16.00 price target on shares of Crescent Energy in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.45.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $10.87 on Friday. The firm has a market cap of $2.81 billion, a PE ratio of 17.52 and a beta of 2.18. 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 1-year low of $9.88 and a 1-year high of $16.94. The company has a fifty day moving average price of $14.38 and a 200 day moving average price of $13.46.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Insider Activity

In related news, Director Michael Duginski acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the acquisition, the director now directly owns 233,607 shares of the company’s stock, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. 13.20% of the stock is owned by corporate 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.