Insider Buying: Crescent Energy (NYSE:CRGY) Director Acquires $41,520.00 in Stock

Crescent Energy (NYSE:CRGY) Director Michael Duginski purchased 4,000 shares of Crescent Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the transaction, the director now owns 233,607 shares in the company, valued at $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, March 13th, Michael Duginski purchased 20,000 shares of Crescent Energy stock. The shares were bought at an average price of $10.57 per share, for a total transaction of $211,400.00.

Crescent Energy Trading Up 3.6 %

CRGY opened at $10.87 on Friday. The stock has a market cap of $2.81 billion, a PE ratio of 17.52 and a beta of 2.18. 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 business has a 50 day moving average of $14.38 and a 200-day moving average of $13.48. Crescent Energy has a 52 week low of $9.88 and a 52 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 4.42%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Analysts Set New Price Targets

CRGY has been the topic of several recent research reports. Truist Financial raised their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho increased their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Williams Trading set a $16.00 price objective on Crescent Energy in a report on Wednesday, March 5th. Raymond James increased their price objective on 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 Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and a consensus target price of $17.45.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in Crescent Energy during the fourth quarter valued at $754,000. Public Employees Retirement System of Ohio raised its stake in 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 valued at $40,000 after buying an additional 705 shares during the last quarter. Neo Ivy Capital Management raised its stake in Crescent Energy by 547.9% during the fourth quarter. Neo Ivy Capital Management now owns 254,706 shares of the company’s stock valued at $3,721,000 after buying an additional 215,396 shares during the last quarter. GTS Securities LLC purchased a new position in Crescent Energy during the fourth quarter valued at $465,000. Finally, PharVision Advisers LLC purchased a new position in Crescent Energy during the fourth quarter valued at $267,000. Hedge funds and other institutional investors 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.