Jupiter Asset Management Ltd. Invests $6.13 Million in Crescent Energy (NYSE:CRGY)

Jupiter Asset Management Ltd. acquired a new position in Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 419,762 shares of the company's stock, valued at approximately $6,133,000. Jupiter Asset Management Ltd. owned about 0.18% of Crescent Energy at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Crescent Energy by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock worth $553,000 after purchasing an additional 897 shares during the period. GAMMA Investing LLC raised its position in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after acquiring an additional 1,621 shares during the period. Amalgamated Bank raised its position in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock worth $54,000 after acquiring an additional 2,272 shares during the period. Jones Financial Companies Lllp boosted its stake 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. Finally, Heritage Wealth Management Inc. grew its position in shares of Crescent Energy by 2.6% during the 4th quarter. Heritage Wealth Management Inc. now owns 111,475 shares of the company's stock valued at $1,629,000 after acquiring an additional 2,775 shares during the period. Institutional investors own 52.11% of the company's stock.

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Analysts Set New Price Targets

CRGY has been the topic of a number of research reports. Citigroup cut shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Truist Financial upped their price target on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Williams Trading set a $16.00 price objective on Crescent Energy in a report on Wednesday, March 5th. 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 note on Thursday, January 23rd. Finally, Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating on the stock. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.45.

Crescent Energy Price Performance

Crescent Energy stock traded up $0.38 during midday trading on Friday, hitting $10.87. 4,035,224 shares of the company's stock were exchanged, compared to its average volume of 3,038,502. The company has a market cap of $2.81 billion, a P/E ratio of 17.52 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50-day moving average price of $14.38 and a two-hundred day moving average price of $13.46. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is -69.57%.

Insider Activity at Crescent Energy

In other news, Director Michael Duginski acquired 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the acquisition, the director now owns 259,607 shares of the company's stock, valued at $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. 13.20% of the stock is currently owned by insiders.

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.