Picton Mahoney Asset Management Has $217,000 Stock Holdings in Crescent Energy (NYSE:CRGY)

Picton Mahoney Asset Management grew its position in Crescent Energy (NYSE:CRGY) by 13,645.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,845 shares of the company’s stock after buying an additional 14,737 shares during the period. Picton Mahoney Asset Management’s holdings in Crescent Energy were worth $217,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CRGY. Swiss National Bank lifted its holdings in Crescent Energy by 21.3% during the fourth quarter. Swiss National Bank now owns 345,067 shares of the company’s stock worth $5,041,000 after acquiring an additional 60,700 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Crescent Energy during the fourth quarter worth about $6,133,000. Johnson Investment Counsel Inc. bought a new position in shares of Crescent Energy during the 4th quarter valued at about $193,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Crescent Energy by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,329 shares of the company’s stock valued at $765,000 after purchasing an additional 3,779 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock worth $152,000 after purchasing an additional 8,942 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Siebert Williams Shank began coverage on Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. Finally, Citigroup downgraded Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Crescent Energy presently has an average rating of “Moderate Buy” and a consensus target price of $17.45.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the purchase, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s 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. 13.20% of the stock is owned by corporate insiders.

Crescent Energy Stock Performance

Shares of NYSE CRGY opened at $10.87 on Monday. 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 stock has a 50 day moving average price of $14.38 and a 200 day moving average price of $13.49. The stock has a market capitalization of $2.81 billion, a PE ratio of 17.52 and a beta of 2.18. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. Crescent Energy’s dividend payout ratio is presently -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.