Arizona State Retirement System Buys 4,640 Shares of Crescent Energy (NYSE:CRGY)

Arizona State Retirement System increased its stake in shares of Crescent Energy (NYSE:CRGY) by 21.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,557 shares of the company’s stock after purchasing an additional 4,640 shares during the quarter. Arizona State Retirement System’s holdings in Crescent Energy were worth $315,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CRGY. Jupiter Asset Management Ltd. bought a new position in Crescent Energy in the 1st quarter valued at $2,877,000. Vanguard Group Inc. grew its position in Crescent Energy by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after acquiring an additional 530,199 shares during the last quarter. GSA Capital Partners LLP grew its position in Crescent Energy by 901.7% in the 1st quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock valued at $1,198,000 after acquiring an additional 90,630 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Crescent Energy in the 4th quarter valued at $1,393,000. Finally, Moody National Bank Trust Division bought a new position in shares of Crescent Energy during the 2nd quarter worth $769,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 2.8 %

Shares of NYSE:CRGY opened at $10.99 on Wednesday. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -54.95 and a beta of 2.26. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $11.40 and a 200-day moving average price of $11.59.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. Equities analysts predict that Crescent Energy will post 1.31 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.37%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is -240.00%.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski acquired 9,344 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the acquisition, the director now owns 201,081 shares in the company, valued at $2,135,480.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 12,294 shares of company stock valued at $131,297 over the last ninety days. Company insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CRGY shares. Stephens reissued an “overweight” rating and set a $20.00 price target on shares of Crescent Energy in a research report on Tuesday, August 6th. Truist Financial decreased their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research assumed coverage on Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company. Mizuho decreased their price target on Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wells Fargo & Company increased their price target on Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crescent Energy has an average rating of “Buy” and an average target price of $16.70.

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.