Brandi Kendall Purchases 932 Shares of Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY - Get Free Report) insider Brandi Kendall bought 932 shares of the business's stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of $11.05 per share, for a total transaction of $10,298.60. Following the acquisition, the insider now directly owns 23,347 shares of the company's stock, valued at $257,984.35. The trade was a 4.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Crescent Energy Price Performance

CRGY traded down $0.22 during trading on Friday, reaching $11.44. The stock had a trading volume of 15,314,590 shares, compared to its average volume of 2,925,377. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 18.44 and a beta of 2.18. The stock has a 50 day moving average of $13.95 and a two-hundred day moving average of $13.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.20%. Crescent Energy's dividend payout ratio is currently -69.57%.

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Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company's stock valued at $54,000 after purchasing an additional 2,272 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Crescent Energy by 7.0% during the third quarter. Victory Capital Management Inc. now owns 708,205 shares of the company's stock worth $7,755,000 after buying an additional 46,448 shares in the last quarter. Quest Partners LLC bought a new stake in Crescent Energy during the third quarter worth approximately $189,000. Meeder Asset Management Inc. acquired a new position in Crescent Energy in the third quarter worth approximately $161,000. Finally, Phocas Financial Corp. bought a new position in shares of Crescent Energy in the third quarter valued at $3,400,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRGY. Raymond James boosted their price objective on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Williams Trading set a $16.00 price target on shares of Crescent Energy in a report on Wednesday, March 5th. Mizuho upped their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Stephens reissued an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.45.

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.