Swiss National Bank Grows Position in Crescent Energy (NYSE:CRGY)

Swiss National Bank lifted its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 345,067 shares of the company's stock after buying an additional 60,700 shares during the quarter. Swiss National Bank owned approximately 0.15% of Crescent Energy worth $5,041,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRGY. Jones Financial Companies Lllp increased its holdings in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after buying an additional 2,377 shares during the period. GAMMA Investing LLC boosted 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 valued at $73,000 after acquiring an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Crescent Energy in the 4th quarter valued at $131,000. PNC Financial Services Group Inc. raised its position in shares of Crescent Energy by 619.7% in 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 in the last quarter. Finally, Zacks Investment Management bought a new position in shares of Crescent Energy in the 3rd quarter worth $121,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Analysts Set New Price Targets

CRGY has been the topic of a number of recent research reports. 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. Raymond James reaffirmed a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research report on Friday. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research note on Wednesday, March 5th. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Siebert Williams Shank assumed coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of "Moderate Buy" and an average target price of $17.09.

Crescent Energy Stock Performance

Shares of NYSE:CRGY traded down $0.15 on Friday, hitting $11.13. 1,979,455 shares of the company were exchanged, compared to its average volume of 3,040,723. The firm has a market capitalization of $2.88 billion, a P/E ratio of 17.94 and a beta of 2.18. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The stock's 50 day moving average price is $13.54 and its 200 day moving average price is $13.46.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders 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 yield of 4.31%. Crescent Energy's dividend payout ratio is currently -69.57%.

Insider Buying and Selling at Crescent Energy

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