Crescent Energy (NYSE:CRGY) Insider Purchases $10,298.60 in Stock

Crescent Energy (NYSE:CRGY) insider Brandi Kendall purchased 932 shares of the stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $11.05 per share, for a total transaction of $10,298.60. Following the completion of the purchase, the insider now directly owns 23,347 shares in the company, valued at approximately $257,984.35. The trade was a 4.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Crescent Energy Stock Performance

NYSE:CRGY traded up $0.51 during mid-day trading on Wednesday, hitting $11.71. 2,923,482 shares of the stock were exchanged, compared to its average volume of 2,852,564. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50-day simple moving average is $14.20 and its 200 day simple moving average is $13.48. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 18.88 and a beta of 2.18.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.10%. Crescent Energy’s payout ratio is presently -69.57%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRGY shares. Siebert Williams Shank started coverage on Crescent Energy in a report on Monday, February 3rd. They set a “buy” rating on the stock. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. JPMorgan Chase & Co. decreased their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Raymond James boosted their target price on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Citigroup cut shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.45.

Institutional Trading of Crescent Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its holdings in shares of Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after purchasing an additional 705 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after purchasing an additional 2,377 shares in the last quarter. Amalgamated Bank increased its position in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares during the period. Quarry LP raised its stake in Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.