Quantbot Technologies LP Acquires 39,492 Shares of Crescent Energy (NYSE:CRGY)

Quantbot Technologies LP increased its position in Crescent Energy (NYSE:CRGY - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,755 shares of the company's stock after purchasing an additional 39,492 shares during the quarter. Quantbot Technologies LP owned approximately 0.08% of Crescent Energy worth $2,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after acquiring an additional 2,377 shares during the period. GAMMA Investing LLC raised its stake in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after purchasing an additional 1,621 shares during the period. Zacks Investment Management bought a new stake in shares of Crescent Energy in the third quarter valued at about $121,000. Toth Financial Advisory Corp acquired a new position in shares of Crescent Energy during the fourth quarter worth about $131,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock worth $152,000 after buying an additional 8,942 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CRGY shares. Raymond James lifted their target price on Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. Citigroup downgraded Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.55.

Crescent Energy Stock Performance

Shares of NYSE:CRGY traded down $0.23 during trading on Thursday, reaching $11.25. 2,493,903 shares of the stock were exchanged, compared to its average volume of 2,935,995. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The stock has a 50-day moving average price of $13.65 and a 200-day moving average price of $13.48. 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 firm has a market cap of $2.91 billion, a PE ratio of 18.14 and a beta of 2.18.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Wednesday, March 12th. Crescent Energy's dividend payout ratio is -69.57%.

Insiders Place Their Bets

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 24,932 shares of company stock worth $263,219 in the last 90 days. Company 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.