LSV Asset Management Sells 54,374 Shares of Crescent Energy (NYSE:CRGY)

LSV Asset Management cut its stake in Crescent Energy (NYSE:CRGY - Free Report) by 69.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,750 shares of the company's stock after selling 54,374 shares during the period. LSV Asset Management's holdings in Crescent Energy were worth $347,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its position in Crescent Energy by 78.6% in the third quarter. State Street Corp now owns 6,783,997 shares of the company's stock worth $74,285,000 after buying an additional 2,986,468 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Crescent Energy by 109.5% in the 3rd quarter. XTX Topco Ltd now owns 21,893 shares of the company's stock valued at $240,000 after buying an additional 11,444 shares in the last quarter. Barclays PLC raised its holdings in Crescent Energy by 579.6% during the third quarter. Barclays PLC now owns 241,137 shares of the company's stock valued at $2,641,000 after buying an additional 205,657 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Crescent Energy by 53.2% during the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock valued at $36,741,000 after acquiring an additional 1,164,306 shares during the period. Finally, GAMMA Investing LLC increased its position in Crescent Energy by 48.3% during 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. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Shares of CRGY stock traded up $0.23 during trading on Friday, hitting $8.36. The company's stock had a trading volume of 3,660,911 shares, compared to its average volume of 3,213,564. The business has a fifty day moving average of $11.07 and a 200-day moving average of $13.16. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.16 billion, a PE ratio of 13.48 and a beta of 1.88. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is currently -69.57%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRGY. Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Williams Trading set a $16.00 price objective on Crescent Energy in a research report on Wednesday, March 5th. Raymond James reaffirmed a "strong-buy" rating and issued a $18.00 target price (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Siebert Williams Shank assumed coverage on Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating for the company. 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, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Insider Buying and Selling

In other news, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction dated 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 transaction, the director now owns 233,607 shares of the company's stock, valued at $2,424,840.66. This trade represents a 1.74 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, 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 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. In the last quarter, insiders have purchased 24,932 shares of company stock valued at $263,219. Corporate insiders own 13.20% of the company's stock.

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.