Crescent Energy Company (NYSE:CRGY) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System grew its position in shares of Crescent Energy Company (NYSE:CRGY) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,361 shares of the company’s stock after buying an additional 6,744 shares during the period. New York State Teachers Retirement System’s holdings in Crescent Energy were worth $690,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CRGY. Raymond James Financial Inc. bought a new position in Crescent Energy during the fourth quarter worth $1,811,000. SCP Investment LP acquired a new stake in shares of Crescent Energy during the fourth quarter worth $409,000. Clearbridge Investments LLC bought a new position in shares of Crescent Energy in the 4th quarter worth about $9,869,000. Thrivent Financial for Lutherans acquired a new position in shares of Crescent Energy in the 4th quarter valued at about $2,981,000. Finally, KBC Group NV bought a new stake in shares of Crescent Energy during the 1st quarter valued at about $117,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

CRGY stock opened at $9.30 on Friday. The company has a 50-day simple moving average of $8.95 and a 200 day simple moving average of $11.25. The company has a market capitalization of $2.37 billion, a P/E ratio of -20.67 and a beta of 1.74. 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 Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. The company had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Sell-side analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Monday, May 19th. Crescent Energy’s dividend payout ratio (DPR) is presently -106.67%.

Wall Street Analyst Weigh In

CRGY has been the topic of a number of recent research reports. KeyCorp cut their target price on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. Piper Sandler began coverage on Crescent Energy in a research note on Monday, June 9th. They set an “overweight” rating and a $14.00 price objective for the company. Mizuho reduced their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. One 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 company. According to MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.