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 stock was bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the acquisition, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at 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 price of $10.38 per share, for a total transaction of $41,520.00.

Crescent Energy Stock Performance

CRGY stock opened at $10.49 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 16.91 and a beta of 2.18. The firm has a 50-day simple moving average of $14.55 and a two-hundred day simple moving average of $13.49. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRGY. JPMorgan Chase & Co. cut their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Stephens reiterated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Truist Financial increased their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup cut shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Finally, Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They set a “buy” rating on the stock. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.45.

Hedge Funds Weigh In On Crescent Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position 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. Hsbc Holdings PLC raised its position in shares of Crescent Energy by 4.3% in the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock valued at $276,000 after purchasing an additional 785 shares during the last quarter. Harbor Capital Advisors Inc. raised its position 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 last quarter. Dark Forest Capital Management LP raised its position 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 valued at $487,000 after purchasing an additional 1,282 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 1,621 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

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.