Sei Investments Co. Has $19.21 Million Stake in Crescent Energy (NYSE:CRGY)

Sei Investments Co. increased its stake in Crescent Energy (NYSE:CRGY) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,314,984 shares of the company’s stock after purchasing an additional 151,618 shares during the period. Sei Investments Co.’s holdings in Crescent Energy were worth $19,212,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRGY. American Century Companies Inc. raised its position in shares of Crescent Energy by 12.7% in the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock valued at $185,561,000 after purchasing an additional 1,436,084 shares during the period. Quantbot Technologies LP raised its holdings in Crescent Energy by 27.6% in the 4th quarter. Quantbot Technologies LP now owns 182,755 shares of the company’s stock worth $2,670,000 after acquiring an additional 39,492 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Crescent Energy in the 4th quarter worth $545,000. Maryland State Retirement & Pension System acquired a new position in Crescent Energy during the 4th quarter worth $864,000. Finally, Xponance Inc. bought a new stake in Crescent Energy during the fourth quarter valued at about $308,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Crescent Energy news, Director Michael Duginski purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the transaction, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy 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 disclosure for this sale can be found here. Insiders purchased 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRGY shares. Raymond James lifted their price objective on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial lifted their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Siebert Williams Shank assumed coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.55.

Crescent Energy Stock Down 2.0 %

NYSE CRGY opened at $11.25 on Friday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average is $13.54 and its two-hundred day moving average is $13.46. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 18.14 and a beta of 2.18.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is -69.57%.

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.