Nebula Research & Development LLC Trims Position in Crescent Energy (NYSE:CRGY)

Nebula Research & Development LLC lowered its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 45.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 99,022 shares of the company's stock after selling 81,195 shares during the quarter. Nebula Research & Development LLC's holdings in Crescent Energy were worth $1,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Crescent Energy by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after acquiring an additional 4,332,831 shares during the period. American Century Companies Inc. lifted its position in Crescent Energy by 12.7% during the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock worth $185,561,000 after acquiring an additional 1,436,084 shares during the period. Pacer Advisors Inc. acquired a new stake in Crescent Energy during the 4th quarter worth about $170,905,000. Bank of New York Mellon Corp lifted its position in Crescent Energy by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after acquiring an additional 3,305,833 shares during the period. Finally, Jennison Associates LLC lifted its position in Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after acquiring an additional 3,354,362 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock.

Insider Activity

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Duginski bought 20,000 shares of the stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the purchase, the director now owns 259,607 shares in the company, valued at $2,744,045.99. The trade was a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 24,932 shares of company stock worth $263,219 over the last quarter. 13.20% of the stock is currently owned by corporate insiders.

Crescent Energy Price Performance

NYSE CRGY traded down $0.03 during trading hours on Monday, reaching $8.69. The company's stock had a trading volume of 3,179,359 shares, compared to its average volume of 3,254,048. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 14.02 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 current ratio of 0.93 and a quick ratio of 0.93. The company's 50-day moving average is $10.30 and its two-hundred day moving average is $12.98.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.52%. Crescent Energy's payout ratio is currently -69.57%.

Wall Street Analyst Weigh In

CRGY has been the subject of a number of research reports. Mizuho lifted their price target on Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. KeyCorp decreased their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Truist Financial boosted their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a report on Monday, January 13th. Citigroup cut Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Finally, Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Crescent Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

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.