Crescent Energy (NYSE:CRGY) Director Purchases $41,520.00 in Stock

Crescent Energy (NYSE:CRGY) Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $10.38 per share, with a total value of $41,520.00. Following the purchase, the director now directly owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This represents a 1.74 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

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

Crescent Energy Price Performance

Crescent Energy stock traded down $0.23 during trading on Thursday, reaching $10.49. The company had a trading volume of 4,519,987 shares, compared to its average volume of 3,017,735. The firm’s 50-day simple moving average is $14.55 and its 200 day simple moving average is $13.49. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The firm has a market capitalization of $2.71 billion, a PE ratio of 16.91 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.58%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Analyst Ratings Changes

CRGY has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. Truist Financial lifted their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Raymond James lifted their price target on shares of 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 research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Crescent Energy currently has an average rating of “Moderate Buy” and an average price target of $17.45.

Institutional Investors Weigh In On Crescent Energy

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in Crescent Energy by 35.3% during the 4th 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 during the last quarter. Farther Finance Advisors LLC grew its stake in Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after acquiring an additional 3,135 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after acquiring an additional 2,377 shares in the last quarter. Quarry LP raised its holdings in Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after acquiring an additional 3,155 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

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.