Bryce Point Capital LLC Takes $1.38 Million Position in Crescent Energy (NYSE:CRGY)

Bryce Point Capital LLC acquired a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 94,497 shares of the company's stock, valued at approximately $1,381,000.

A number of other hedge funds have also modified their holdings of CRGY. Jones Financial Companies Lllp raised its stake in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after acquiring an additional 2,377 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after buying an additional 1,621 shares in the last quarter. Zacks Investment Management bought a new position in shares of Crescent Energy in the third quarter valued at approximately $121,000. Toth Financial Advisory Corp acquired a new position in shares of Crescent Energy in the 4th quarter worth approximately $131,000. Finally, PNC Financial Services Group Inc. grew its position in Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock worth $152,000 after acquiring an additional 8,942 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Trading Down 3.6 %

NYSE:CRGY traded down $0.29 during mid-day trading on Monday, hitting $7.54. The company had a trading volume of 2,590,138 shares, compared to its average volume of 3,341,819. The firm has a market cap of $1.95 billion, a P/E ratio of 12.17 and a beta of 1.88. Crescent Energy has a fifty-two week low of $7.14 and a fifty-two week high of $16.94. The business's fifty day moving average is $12.81 and its two-hundred day moving average is $13.49. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.37%. Crescent Energy's dividend payout ratio is -69.57%.

Analysts Set New Price Targets

A number of research firms have commented on CRGY. Wells Fargo & Company reduced their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Raymond James reissued a "strong-buy" rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Mizuho raised their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Truist Financial upped their target price 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. Finally, Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating for the company. 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 stock. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.09.

Insiders Place Their Bets

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Duginski purchased 20,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the purchase, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 24,932 shares of company stock worth $263,219. Corporate insiders own 13.20% 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.