Riposte Capital LLC lessened its stake in Crescent Energy (NYSE:CRGY - Free Report) by 58.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 700,000 shares of the company's stock after selling 965,000 shares during the quarter. Crescent Energy makes up approximately 2.0% of Riposte Capital LLC's holdings, making the stock its 15th biggest holding. Riposte Capital LLC owned about 0.31% of Crescent Energy worth $10,227,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of Crescent Energy during the 3rd quarter valued at approximately $189,000. Intech Investment Management LLC acquired a new stake in shares of Crescent Energy during the third quarter worth $350,000. Landscape Capital Management L.L.C. acquired a new position in shares of Crescent Energy in the 3rd quarter valued at about $155,000. Charles Schwab Investment Management Inc. grew its position in shares of Crescent Energy by 59.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company's stock valued at $17,370,000 after buying an additional 589,665 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Crescent Energy by 335.1% during the 3rd quarter. Citigroup Inc. now owns 343,940 shares of the company's stock valued at $3,766,000 after buying an additional 264,883 shares during the last quarter. Institutional investors own 52.11% of the company's stock.
Crescent Energy Price Performance
Shares of NYSE:CRGY traded down $0.09 during trading on Tuesday, reaching $11.57. The company had a trading volume of 3,073,312 shares, compared to its average volume of 2,933,869. The firm's fifty day moving average is $13.76 and its 200 day moving average is $13.49. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2.99 billion, a PE ratio of 18.66 and a beta of 2.18. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94.
Crescent Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's payout ratio is currently -69.57%.
Insider Activity
In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Duginski bought 20,000 shares of Crescent Energy stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, with a total value 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 $2,744,045.99. This represents a 8.35 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by company insiders.
Analyst Ratings Changes
CRGY has been the subject of a number of research reports. Stephens restated an "overweight" rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Monday, March 3rd. Truist Financial boosted their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Finally, Siebert Williams Shank initiated coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.55.
Read Our Latest Stock Report on CRGY
About Crescent Energy
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Free Report)
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.
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