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

Crescent Energy (NYSE:CRGY - Get Free Report) Director Michael Duginski purchased 4,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 acquired at an average cost of $10.57 per share, with a total value of $211,400.00.

Crescent Energy Price Performance

Shares of NYSE:CRGY traded up $0.15 during midday trading on Monday, hitting $11.06. The company had a trading volume of 3,792,634 shares, compared to its average volume of 2,847,508. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50-day simple moving average is $14.38 and its 200-day simple moving average is $13.49. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 17.83 and a beta of 2.18.

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Crescent Energy Announces Dividend

The company also recently announced 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 4.34%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is presently -69.57%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRGY shares. Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating for the company. Mizuho lifted 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. JPMorgan Chase & Co. reduced their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.45.

Institutional Trading of Crescent Energy

Several hedge funds have recently made changes to their positions in CRGY. Farther Finance Advisors LLC lifted its holdings in Crescent Energy by 15,675.0% in the third 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 during the last quarter. Public Employees Retirement System of Ohio raised its position in Crescent Energy by 35.3% in the fourth 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 period. Jones Financial Companies Lllp lifted its stake in shares of Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after purchasing an additional 2,377 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Crescent Energy by 86.4% during 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 during the period. Finally, Quarry LP grew its holdings in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares during the period. 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.