25,768 Shares in Crescent Energy Company (NYSE:CRGY) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in shares of Crescent Energy Company (NYSE:CRGY) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 25,768 shares of the company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRGY. Vanguard Group Inc. raised its holdings 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 purchasing an additional 4,332,831 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in Crescent Energy during the fourth quarter worth $36,593,000. Adage Capital Partners GP L.L.C. increased its position in Crescent Energy by 6,700.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,700,000 shares of the company’s stock worth $24,837,000 after buying an additional 1,675,000 shares in the last quarter. Covalis Capital LLP purchased a new position in Crescent Energy during the fourth quarter worth $23,376,000. Finally, American Century Companies Inc. increased its position in Crescent Energy by 12.7% during the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock worth $185,561,000 after buying an additional 1,436,084 shares in the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRGY has been the subject of several recent research reports. Mizuho dropped their price target on Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Raymond James Financial reissued 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. KeyCorp dropped their price target on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company dropped their price target 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. Finally, Piper Sandler raised their price target on Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus price target of $16.10.

Crescent Energy Price Performance

CRGY stock opened at $8.72 on Friday. The stock has a 50-day moving average price of $8.99 and a two-hundred day moving average price of $11.02. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.10. The company has a market cap of $2.23 billion, a PE ratio of -19.38 and a beta of 1.74.

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

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend was Monday, May 19th. Crescent Energy’s dividend payout ratio is presently -106.67%.

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.