Royce & Associates LP Sells 338,018 Shares of Crescent Energy (NYSE:CRGY)

Royce & Associates LP lowered its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 679,838 shares of the company's stock after selling 338,018 shares during the period. Royce & Associates LP owned about 0.30% of Crescent Energy worth $9,932,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after buying an additional 2,986,468 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company's stock valued at $36,741,000 after acquiring an additional 1,164,306 shares during the period. Amalgamated Bank grew its position in Crescent Energy by 919.0% during the 4th quarter. Amalgamated Bank now owns 49,961 shares of the company's stock worth $730,000 after acquiring an additional 45,058 shares during the last quarter. M&T Bank Corp purchased a new position in Crescent Energy in the 4th quarter worth approximately $683,000. Finally, Victory Capital Management Inc. lifted its position in Crescent Energy by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 756,002 shares of the company's stock valued at $11,045,000 after purchasing an additional 47,797 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

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Crescent Energy Stock Down 1.8 %

Shares of CRGY traded down $0.22 on Friday, reaching $11.44. The stock had a trading volume of 15,281,350 shares, compared to its average volume of 2,918,599. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $16.94. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 18.44 and a beta of 2.18. The company has a 50-day simple moving average of $14.04 and a 200-day simple moving average of $13.45.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy's dividend payout ratio is currently -69.57%.

Analysts Set New Price Targets

Several brokerages recently commented on CRGY. Stephens reaffirmed 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 shares of Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Raymond James upped their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 23rd. Siebert Williams Shank began coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating on the stock. Finally, Williams Trading set a $16.00 price target on Crescent Energy in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.45.

Insider Activity

In related news, Director Michael Duginski acquired 20,000 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares of the company's stock, valued at $2,744,045.99. This represents a 8.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business'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. In the last 90 days, insiders have acquired 24,932 shares of company stock worth $263,219. Corporate 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.