Crescent Energy (NYSE:CRGY) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in Crescent Energy (NYSE:CRGY - Free Report) by 48.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,034,189 shares of the company's stock after selling 963,260 shares during the quarter. Wellington Management Group LLP owned approximately 0.45% of Crescent Energy worth $15,110,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its position in shares of Crescent Energy by 78.6% in the third quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after purchasing an additional 2,986,468 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Crescent Energy during the 4th quarter worth about $1,811,000. SCP Investment LP acquired a new stake in shares of Crescent Energy in the fourth quarter worth approximately $409,000. Clearbridge Investments LLC acquired a new position in Crescent Energy during the fourth quarter worth approximately $9,869,000. Finally, Thrivent Financial for Lutherans purchased a new position in Crescent Energy during the fourth quarter worth approximately $2,981,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski bought 4,000 shares of Crescent Energy stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $10.38 per share, with a total value of $41,520.00. Following the purchase, the director now directly owns 233,607 shares of the company's stock, valued at approximately $2,424,840.66. This trade represents a 1.74 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 24,932 shares of company stock valued at $263,219. Insiders own 13.20% of the company's stock.

Wall Street Analyst Weigh In

CRGY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Citigroup lowered Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Mizuho increased their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Siebert Williams Shank began coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating for the company. Finally, Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Crescent Energy Stock Up 0.8 %

CRGY stock traded up $0.06 during midday trading on Monday, hitting $7.77. 229,983 shares of the company's stock were exchanged, compared to its average volume of 3,156,502. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. 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 stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.57 and a beta of 1.88. The firm has a 50 day moving average price of $11.75 and a 200-day moving average price of $13.30.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's payout ratio is currently -69.57%.

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.