Invesco Ltd. Has $20.22 Million Holdings in Crescent Energy (NYSE:CRGY)

Invesco Ltd. raised its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 117.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,384,228 shares of the company's stock after acquiring an additional 748,299 shares during the quarter. Invesco Ltd. owned about 0.61% of Crescent Energy worth $20,224,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised 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 acquiring an additional 2,377 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after purchasing an additional 1,621 shares during the period. Toth Financial Advisory Corp bought a new position in shares of Crescent Energy in the fourth quarter valued at approximately $131,000. PNC Financial Services Group Inc. lifted its stake in shares of Crescent Energy by 619.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock worth $152,000 after buying an additional 8,942 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Crescent Energy during the 4th quarter worth $174,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Price Performance

Shares of CRGY stock traded up $0.08 during mid-day trading on Thursday, reaching $8.35. The company's stock had a trading volume of 446,345 shares, compared to its average volume of 3,231,930. The firm's 50-day moving average is $10.68 and its two-hundred day moving average is $13.07. The company has a market cap of $2.16 billion, a P/E ratio of 13.48 and a beta of 1.88. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $16.94. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 5.75%. Crescent Energy's dividend payout ratio is currently -69.57%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRGY. JPMorgan Chase & Co. decreased their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Raymond James restated a "strong-buy" rating and set a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating on the stock. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Truist Financial boosted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Crescent Energy currently has an average rating of "Moderate Buy" and a consensus target price of $16.80.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski purchased 4,000 shares of Crescent Energy stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction that occurred 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. Over the last three months, insiders purchased 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by company insiders.

Crescent Energy 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.