Victory Capital Management Inc. Boosts Stock Position in Crescent Energy (NYSE:CRGY)

Victory Capital Management Inc. boosted its position in Crescent Energy (NYSE:CRGY - Free Report) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756,002 shares of the company's stock after purchasing an additional 47,797 shares during the period. Victory Capital Management Inc. owned about 0.33% of Crescent Energy worth $11,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock worth $35,000 after acquiring an additional 3,135 shares during the last quarter. Amalgamated Bank increased its stake 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 in the last quarter. Royce & Associates LP acquired a new position in shares of Crescent Energy during the 3rd quarter worth approximately $11,146,000. Empowered Funds LLC raised its position in shares of Crescent Energy by 11.4% during the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company's stock worth $10,132,000 after purchasing an additional 94,948 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Crescent Energy in the 3rd quarter valued at approximately $189,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Trading Up 1.3 %

Shares of NYSE CRGY traded up $0.15 during trading on Monday, hitting $11.06. 3,867,144 shares of the company traded hands, compared to its average volume of 2,847,508. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $2.86 billion, a P/E ratio of 17.83 and a beta of 2.18. The company has a 50-day moving average price of $14.38 and a 200-day moving average price of $13.49. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94.

Remove Ads

Crescent Energy Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.34%. Crescent Energy's dividend payout ratio is currently -69.57%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRGY shares. Mizuho raised their price target on Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Raymond James lifted their price objective on Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a research report on Thursday, January 23rd. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.45.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski bought 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $29,221,844.93. The disclosure for this sale can be found here. Company insiders own 13.20% 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.