Michael Duginski Acquires 20,000 Shares of Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY - Get Free Report) Director Michael Duginski acquired 20,000 shares of the business's 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 acquisition, the director now directly owns 259,607 shares of the company's stock, valued at $2,744,045.99. This represents a 8.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Michael Duginski also recently made the following trade(s):

• On Tuesday, March 11th, Michael Duginski purchased 4,000 shares of Crescent Energy stock. The stock was bought at an average cost of $10.38 per share, with a total value of $41,520.00.

Crescent Energy Trading Up 1.3 %

CRGY traded up $0.15 during midday trading on Monday, reaching $11.06. 3,792,634 shares of the company's stock traded hands, compared to its average volume of 2,847,508. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 17.83 and a beta of 2.18. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The firm has a fifty day moving average of $14.38 and a two-hundred day moving average of $13.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.

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Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's payout ratio is -69.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRGY. Farther Finance Advisors LLC boosted its stake in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock valued at $35,000 after purchasing an additional 3,135 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after buying an additional 705 shares during the period. Jones Financial Companies Lllp boosted its position in Crescent Energy by 206.7% during 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. Amalgamated Bank boosted its position in 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 acquiring an additional 2,272 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after acquiring an additional 3,155 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CRGY. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. Citigroup lowered Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Truist Financial boosted their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.