Insider Buying: Crescent Energy (NYSE:CRGY) Insider Purchases $10,298.60 in Stock

Crescent Energy (NYSE:CRGY) insider Brandi Kendall purchased 932 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was bought at an average price of $11.05 per share, for a total transaction of $10,298.60. Following the completion of the acquisition, the insider now directly owns 23,347 shares in the company, valued at approximately $257,984.35. This trade represents a 4.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Crescent Energy Trading Down 1.8 %

Crescent Energy stock opened at $11.44 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 18.44 and a beta of 2.18. The stock has a 50-day moving average price of $13.95 and a 200 day moving average price of $13.45.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is -69.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRGY shares. Mizuho raised their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Williams Trading set a $16.00 price objective on Crescent Energy in a research report on Wednesday, March 5th. Siebert Williams Shank started coverage on Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating on the stock. Finally, 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, March 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.45.

Institutional Investors Weigh In On Crescent Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in Crescent Energy during the fourth quarter valued at approximately $170,905,000. Vanguard Group Inc. raised its position in Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock valued at $303,150,000 after acquiring an additional 4,332,831 shares in the last quarter. Jennison Associates LLC raised its position in Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after acquiring an additional 3,354,362 shares in the last quarter. Bank of New York Mellon Corp raised its position in Crescent Energy by 55.5% during the fourth 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 in the last quarter. Finally, State Street Corp raised its position in Crescent Energy by 78.6% during the third 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 in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

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.