Segall Bryant & Hamill LLC Acquires 138,497 Shares of Crescent Energy (NYSE:CRGY)

Segall Bryant & Hamill LLC raised its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,210,907 shares of the company's stock after purchasing an additional 138,497 shares during the quarter. Crescent Energy accounts for 0.6% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 27th largest position. Segall Bryant & Hamill LLC owned approximately 1.41% of Crescent Energy worth $46,911,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in shares of Crescent Energy by 37.9% during the 4th quarter. Prudential Financial Inc. now owns 176,026 shares of the company's stock worth $2,572,000 after purchasing an additional 48,395 shares during the last quarter. Corebridge Financial Inc. grew its holdings in Crescent Energy by 13.4% during the fourth quarter. Corebridge Financial Inc. now owns 86,962 shares of the company's stock valued at $1,271,000 after purchasing an additional 10,246 shares during the period. Vanguard Group Inc. increased its position in Crescent Energy by 26.4% in the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares during the last quarter. LPL Financial LLC raised its stake in shares of Crescent Energy by 359.1% in the fourth quarter. LPL Financial LLC now owns 90,218 shares of the company's stock valued at $1,318,000 after buying an additional 70,568 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Crescent Energy during the 4th quarter valued at $518,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

Shares of Crescent Energy stock traded down $0.15 during trading on Friday, hitting $11.13. 1,979,455 shares of the stock traded hands, compared to its average volume of 3,046,059. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 17.94 and a beta of 2.18. 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 has a 52 week low of $9.88 and a 52 week high of $16.94. The firm's fifty day moving average is $13.43 and its 200-day moving average is $13.49.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. 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 4.31%. Crescent Energy's payout ratio is -69.57%.

Insider Activity

In related news, Director Michael Duginski bought 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, with a total value of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction that occurred 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 acquired 24,932 shares of company stock valued at $263,219. Corporate insiders own 13.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRGY shares. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Monday, March 3rd. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a report on Friday. Mizuho boosted their target price 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, Truist Financial raised their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Crescent Energy currently has an average rating of "Moderate Buy" and an average target price of $17.09.

About Crescent Energy

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.