Aigen Investment Management LP Buys New Shares in Crescent Energy (NYSE:CRGY)

Aigen Investment Management LP bought a new stake in Crescent Energy (NYSE:CRGY) in the 4th quarter, Holdings Channel reports. The firm bought 33,504 shares of the company’s stock, valued at approximately $489,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CRGY. State Street Corp boosted its position in Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the period. Empowered Funds LLC boosted its position in Crescent Energy by 11.4% during the third quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock worth $10,132,000 after purchasing an additional 94,948 shares during the period. Geode Capital Management LLC boosted its position in Crescent Energy by 53.2% during the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock worth $36,741,000 after purchasing an additional 1,164,306 shares during the period. Louisiana State Employees Retirement System bought a new position in Crescent Energy during the fourth quarter worth $1,233,000. Finally, Principal Financial Group Inc. boosted its position in Crescent Energy by 7,793.7% during the fourth quarter. Principal Financial Group Inc. now owns 847,549 shares of the company’s stock worth $12,383,000 after purchasing an additional 836,812 shares during the period. 52.11% of the stock is owned by institutional investors.

Crescent Energy Stock Down 1.4 %

Shares of NYSE CRGY opened at $10.67 on Friday. 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 company has a market cap of $2.43 billion, a price-to-earnings ratio of 17.20 and a beta of 2.18. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The stock has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $13.49.

Crescent Energy Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Mizuho boosted their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Truist Financial boosted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a “buy” rating for the company. Finally, Raymond James boosted their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.60.

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.