Quantbot Technologies LP Increases Position in Crescent Energy (NYSE:CRGY)

Quantbot Technologies LP increased its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 27.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,755 shares of the company's stock after acquiring an additional 39,492 shares during the quarter. Quantbot Technologies LP owned about 0.08% of Crescent Energy worth $2,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of 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 period. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Crescent Energy during the fourth quarter worth about $131,000. PNC Financial Services Group Inc. increased its position in Crescent Energy by 619.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after acquiring an additional 8,942 shares during the period. Finally, Zacks Investment Management acquired a new stake in Crescent Energy during the 3rd quarter worth approximately $121,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael Duginski bought 20,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the acquisition, the director now owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35 % 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 on Monday, March 10th. The stock was 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. Insiders bought a total of 24,932 shares of company stock worth $263,219 over the last 90 days. 13.20% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

CRGY has been the topic of a number of recent research reports. Siebert Williams Shank started coverage on Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating on the stock. Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Williams Trading set a $16.00 price objective on Crescent Energy in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.55.

Crescent Energy Price Performance

NYSE CRGY traded up $0.02 during mid-day trading on Tuesday, hitting $11.68. The stock had a trading volume of 2,129,266 shares, compared to its average volume of 2,926,222. The company has a 50 day simple moving average of $13.86 and a 200 day simple moving average of $13.48. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 18.83 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 company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's dividend payout ratio is currently -69.57%.

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.