Swiss National Bank Has $5.04 Million Position in Crescent Energy (NYSE:CRGY)

Swiss National Bank lifted its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 21.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,067 shares of the company's stock after purchasing an additional 60,700 shares during the quarter. Swiss National Bank owned about 0.15% of Crescent Energy worth $5,041,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CRGY shares. Stephens reaffirmed an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Truist Financial upped their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Citigroup lowered Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target 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. Finally, Mizuho increased their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.55.

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Crescent Energy Stock Down 0.8 %

Shares of CRGY stock traded down $0.09 during trading on Tuesday, hitting $11.57. 3,073,312 shares of the company were exchanged, compared to its average volume of 2,926,222. The business's 50-day simple moving average is $13.86 and its 200 day simple moving average is $13.48. 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 has a twelve month low of $9.88 and a twelve month high of $16.94. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 18.66 and a beta of 2.18.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.15%. The ex-dividend date is Wednesday, March 12th. Crescent Energy's dividend payout ratio is -69.57%.

Insider Transactions at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Duginski purchased 4,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $10.38 per share, with a total value of $41,520.00. Following the acquisition, the director now owns 233,607 shares in the company, valued at approximately $2,424,840.66. This represents a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,932 shares of company stock worth $263,219 in the last 90 days. 13.20% of the stock is owned by insiders.

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.