New York State Teachers Retirement System Acquires 1,800 Shares of Crescent Energy Company $CRGY

New York State Teachers Retirement System raised its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,161 shares of the company’s stock after acquiring an additional 1,800 shares during the period. New York State Teachers Retirement System’s holdings in Crescent Energy were worth $543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRGY. Nuveen LLC purchased a new stake in shares of Crescent Energy during the first quarter valued at approximately $21,782,000. Alyeska Investment Group L.P. boosted its stake in shares of Crescent Energy by 452.3% during the first quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock valued at $17,817,000 after purchasing an additional 1,298,155 shares during the period. American Century Companies Inc. boosted its stake in shares of Crescent Energy by 10.0% during the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock valued at $156,996,000 after purchasing an additional 1,266,674 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after purchasing an additional 1,174,576 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Crescent Energy during the first quarter valued at approximately $10,087,000. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $8.07 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.05 billion, a P/E ratio of -44.81 and a beta of 1.89. The business has a fifty day simple moving average of $8.95 and a two-hundred day simple moving average of $8.85. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. The business had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. On average, equities analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 6.0%. Crescent Energy’s dividend payout ratio (DPR) is currently -266.67%.

Analysts Set New Price Targets

CRGY has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Crescent Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Crescent Energy in a research note on Wednesday, October 8th. Mizuho cut their price target on shares of Crescent Energy from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the company a “strong-buy” rating in a report on Wednesday, August 27th. Finally, Zacks Research cut shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus price target of $15.22.

About Crescent Energy

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.