Crescent Energy (NYSE:CRGY) Director Acquires $99,233.28 in Stock

Crescent Energy (NYSE:CRGY) Director Michael Duginski acquired 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, with a total value of $99,233.28. Following the acquisition, the director now directly owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Crescent Energy Trading Up 3.6 %

Shares of CRGY traded up $0.38 during trading hours on Monday, reaching $10.85. 2,679,410 shares of the company traded hands, compared to its average volume of 2,049,933. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -52.35 and a beta of 2.32. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $14.22. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average price is $11.89 and its 200 day moving average price is $11.57.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 4.42%. Crescent Energy’s payout ratio is currently -240.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRGY. Mizuho lifted their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Stephens reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Truist Financial cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research assumed coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, KeyCorp began coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.70.

Institutional Trading of Crescent Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC raised its holdings in Crescent Energy by 1.0% in the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after purchasing an additional 883 shares in the last quarter. ProShare Advisors LLC raised its holdings in Crescent Energy by 8.5% in the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock worth $165,000 after purchasing an additional 1,085 shares in the last quarter. Quadrature Capital Ltd raised its holdings in Crescent Energy by 5.1% in the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock worth $366,000 after purchasing an additional 1,503 shares in the last quarter. CWM LLC raised its holdings in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Crescent Energy in the second quarter worth about $32,000. 52.11% of the stock is currently owned by institutional investors.

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.