Crescent Energy (NYSE:CRGY) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Crescent Energy (NYSE:CRGY) by 6.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 756,002 shares of the company’s stock after buying an additional 47,797 shares during the quarter. Victory Capital Management Inc.’s holdings in Crescent Energy were worth $11,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares during the period. Jones Financial Companies Lllp raised its holdings in Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after acquiring an additional 2,377 shares during the period. Amalgamated Bank increased its holdings in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares during the period. GAMMA Investing LLC increased its holdings in shares of Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares during the period. Finally, Zacks Investment Management bought a new stake in Crescent Energy in the third quarter valued at about $121,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Duginski bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the purchase, the director now owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This represents a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.20% of the company’s stock.

Analyst Ratings Changes

CRGY has been the subject of several recent research reports. Truist Financial increased their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup cut shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating on the stock. Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Finally, Mizuho raised their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of “Moderate Buy” and an average price target of $17.45.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $10.49 on Friday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 16.91 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50-day simple moving average of $14.55 and a 200 day simple moving average of $13.49. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.58%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is -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.