Brandi Kendall Acquires 932 Shares of Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY) insider Brandi Kendall acquired 932 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $11.05 per share, for a total transaction of $10,298.60. Following the purchase, the insider now owns 23,347 shares of the company’s stock, valued at $257,984.35. The trade was a 4.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Crescent Energy Trading Down 0.7 %

Crescent Energy stock opened at $11.64 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of 18.77 and a beta of 2.18. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The firm’s fifty day moving average price is $14.04 and its 200-day moving average price is $13.45. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.13%. Crescent Energy’s payout ratio is currently -69.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating on the stock. Mizuho upped their price objective on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings 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 worth $74,285,000 after purchasing an additional 2,986,468 shares during the period. Geode Capital Management LLC increased its stake in Crescent Energy by 53.2% in the third 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 last quarter. Amalgamated Bank increased its stake in Crescent Energy by 919.0% in the fourth quarter. Amalgamated Bank now owns 49,961 shares of the company’s stock valued at $730,000 after acquiring an additional 45,058 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Crescent Energy in the fourth quarter valued at $1,233,000. Finally, Principal Financial Group Inc. increased its stake in Crescent Energy by 7,793.7% in the fourth quarter. Principal Financial Group Inc. now owns 847,549 shares of the company’s stock valued at $12,383,000 after acquiring an additional 836,812 shares during the last quarter. Institutional investors own 52.11% 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.