204,053 Shares in Crescent Energy (NYSE:CRGY) Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans bought a new stake in shares of Crescent Energy (NYSE:CRGY) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 204,053 shares of the company’s stock, valued at approximately $2,981,000. Thrivent Financial for Lutherans owned 0.09% of Crescent Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after buying an additional 2,377 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy during the fourth quarter valued at about $131,000. PNC Financial Services Group Inc. lifted its holdings in Crescent Energy by 619.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock worth $152,000 after purchasing an additional 8,942 shares during the period. Finally, Zacks Investment Management bought a new position in Crescent Energy in the 3rd quarter valued at about $121,000. Institutional investors own 52.11% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Duginski bought 20,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the acquisition, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. This represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRGY. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. JPMorgan Chase & Co. decreased their price target on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday. Raymond James raised their target price on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.55.

Crescent Energy Price Performance

CRGY opened at $11.50 on Thursday. The stock has a fifty day moving average price of $13.65 and a 200 day moving average price of $13.48. 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 stock has a market cap of $2.97 billion, a price-to-earnings ratio of 18.54 and a beta of 2.18.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.18%. Crescent Energy’s payout ratio is -69.57%.

Crescent Energy Company 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.