Crescent Energy (NYSE:CRGY) Director Purchases $211,400.00 in Stock

Crescent Energy (NYSE:CRGY) Director Michael Duginski purchased 20,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Duginski also recently made the following trade(s):

• On Tuesday, March 11th, Michael Duginski purchased 4,000 shares of Crescent Energy stock. The stock was bought at an average cost of $10.38 per share, with a total value of $41,520.00.

Crescent Energy Stock Performance

CRGY opened at $10.87 on Friday. The stock’s 50 day simple moving average is $14.38 and its 200-day simple moving average is $13.48. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.81 billion, a PE ratio of 17.52 and a beta of 2.18. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s dividend payout ratio is -69.57%.

Hedge Funds Weigh In On Crescent Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in Crescent Energy by 35.3% in 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 in the last quarter. Hsbc Holdings PLC boosted its holdings in Crescent Energy by 4.3% during the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock valued at $276,000 after purchasing an additional 785 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Crescent Energy by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock valued at $553,000 after purchasing an additional 897 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Crescent Energy by 4.0% in the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company’s stock worth $487,000 after buying an additional 1,282 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRGY has been the subject of a number of analyst reports. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut 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 report on Thursday. Raymond James raised their price target on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Citigroup lowered Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Crescent Energy has an average rating of “Moderate Buy” and a consensus target price of $17.45.

About Crescent Energy

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.