Legal & General Group Plc Purchases 315,599 Shares of Crescent Energy (NYSE:CRGY)

Legal & General Group Plc lifted its holdings in Crescent Energy (NYSE:CRGY) by 236.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 449,219 shares of the company’s stock after buying an additional 315,599 shares during the period. Legal & General Group Plc owned about 0.20% of Crescent Energy worth $6,563,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Crescent Energy by 206.7% in the fourth 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 during the period. GAMMA Investing LLC raised its holdings 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 valued at $73,000 after acquiring an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of Crescent Energy in the 4th quarter worth approximately $131,000. PNC Financial Services Group Inc. boosted its position in Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after acquiring an additional 8,942 shares in the last quarter. Finally, Olympiad Research LP purchased a new position in Crescent Energy in the fourth quarter valued at about $174,000. 52.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRGY shares. Mizuho increased their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Truist Financial upped their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Siebert Williams Shank initiated coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating for the company. Finally, Citigroup downgraded Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Crescent Energy Stock Performance

CRGY opened at $8.36 on Friday. The stock has a market cap of $2.16 billion, a P/E ratio of 13.48 and a beta of 1.88. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a fifty day moving average price of $11.07 and a 200 day moving average price of $13.17. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is presently -69.57%.

Insider Activity

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Duginski purchased 20,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares of the company’s stock, valued at $2,744,045.99. The trade was a 8.35 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 24,932 shares of company stock worth $263,219 over the last three months. 13.20% of the stock is currently owned by corporate insiders.

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.