Koss Olinger Consulting LLC Sells 2,527 Shares of Crescent Energy (NYSE:CRGY)

Koss Olinger Consulting LLC decreased its holdings in shares of Crescent Energy (NYSE:CRGY) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,185 shares of the company’s stock after selling 2,527 shares during the period. Koss Olinger Consulting LLC’s holdings in Crescent Energy were worth $675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. bought a new stake in shares of Crescent Energy during the 4th quarter valued at $170,905,000. Bank of New York Mellon Corp grew its position in shares of Crescent Energy by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock valued at $135,316,000 after acquiring an additional 3,305,833 shares during the period. State Street Corp grew its position in shares of Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock valued at $74,285,000 after acquiring an additional 2,986,468 shares during the period. Jennison Associates LLC lifted its stake in shares of Crescent Energy by 234.4% during the 4th 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. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after buying an additional 33,626 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRGY shares. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. Citigroup cut shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.45.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the acquisition, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders own 13.20% of the company’s stock.

Crescent Energy Stock Performance

Crescent Energy stock opened at $11.18 on Wednesday. The company’s 50-day moving average price is $14.20 and its 200-day moving average price is $13.48. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.89 billion, a PE ratio of 18.02 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 issued 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 4.30%. Crescent Energy’s dividend payout ratio (DPR) 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.