Jackson Creek Investment Advisors LLC Makes New $1.65 Million Investment in Crescent Energy (NYSE:CRGY)

Jackson Creek Investment Advisors LLC bought a new stake in Crescent Energy (NYSE:CRGY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 112,769 shares of the company’s stock, valued at approximately $1,648,000.

A number of other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. acquired a new stake in Crescent Energy in the 4th quarter worth about $170,905,000. Jennison Associates LLC raised its position in shares of Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after buying an additional 3,354,362 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock valued at $135,316,000 after buying an additional 3,305,833 shares during the period. State Street Corp grew 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 buying an additional 2,986,468 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Crescent Energy during the third quarter worth approximately $21,872,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

CRGY stock opened at $10.81 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 17.43 and a beta of 2.18. 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 company has a 50 day simple moving average of $14.91 and a 200 day simple moving average of $13.50. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.44%. Crescent Energy’s dividend payout ratio (DPR) is presently -69.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRGY shares. Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Raymond James upped their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Siebert Williams Shank began coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a “buy” rating on the stock. 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. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy presently has an average rating of “Buy” and an average target price of $17.60.

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.