Crescent Energy (NYSE:CRGY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Crescent Energy (NYSE:CRGY) by 7,793.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 847,549 shares of the company’s stock after buying an additional 836,812 shares during the quarter. Principal Financial Group Inc. owned approximately 0.37% of Crescent Energy worth $12,383,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares during the last quarter. Amalgamated Bank increased its stake in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 1,621 shares during the last quarter. Zacks Investment Management purchased a new position in Crescent Energy during the third quarter worth about $121,000. Finally, Toth Financial Advisory Corp acquired a new stake in Crescent Energy in the 4th quarter worth about $131,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

NYSE:CRGY opened at $12.77 on Friday. The firm’s fifty day simple moving average is $15.08 and its 200 day simple moving average is $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 twelve month low of $9.88 and a twelve month high of $16.94. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 20.59 and a beta of 2.16.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s dividend payout ratio is presently 77.42%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRGY shares. Mizuho upped their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating on the stock. Raymond James lifted their price target on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Truist Financial upped their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $17.50.

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.