Insider Buying: Crescent Energy (NYSE:CRGY) Insider Purchases 932 Shares of Stock

Crescent Energy (NYSE:CRGY) insider Brandi Kendall acquired 932 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $11.05 per share, with a total value of $10,298.60. Following the completion of the transaction, the insider now directly owns 23,347 shares of the company’s stock, valued at approximately $257,984.35. This represents a 4.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crescent Energy Stock Performance

NYSE CRGY opened at $11.44 on Friday. The stock’s fifty day moving average is $13.95 and its two-hundred day moving average is $13.45. The firm has a market capitalization of $2.96 billion, a P/E ratio of 18.44 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94.

Crescent Energy Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is currently -69.57%.

Hedge Funds Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its stake in Crescent Energy by 30.7% during the fourth quarter. California State Teachers Retirement System now owns 179,917 shares of the company’s stock worth $2,629,000 after buying an additional 42,253 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Crescent Energy in the 4th quarter valued at $754,000. Public Employees Retirement System of Ohio lifted its stake in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares during the last quarter. Neo Ivy Capital Management lifted its stake in shares of Crescent Energy by 547.9% in the 4th quarter. Neo Ivy Capital Management now owns 254,706 shares of the company’s stock valued at $3,721,000 after purchasing an additional 215,396 shares during the last quarter. Finally, GTS Securities LLC acquired a new position in shares of Crescent Energy in the 4th quarter valued at $465,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup cut Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Truist Financial boosted their price objective on 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 Crescent Energy in a research report on Monday, February 3rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. cut their price objective on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James lifted their price target on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Moderate Buy” and a consensus target price of $17.45.

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.