Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Crescent Energy (NYSE:CRGY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Crescent Energy (NYSE:CRGY) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,329 shares of the company’s stock after purchasing an additional 3,779 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crescent Energy were worth $765,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in shares of Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after acquiring an additional 2,377 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after acquiring an additional 1,621 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Crescent Energy during the third quarter valued at about $121,000. Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy during the fourth quarter valued at about $131,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after acquiring an additional 8,942 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. Truist Financial lifted their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Mizuho lifted their price objective 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, Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

Crescent Energy Stock Down 1.8 %

Shares of Crescent Energy stock opened at $11.44 on Friday. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a 50 day moving average of $13.95 and a 200 day moving average of $13.45. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $2.96 billion, a P/E ratio of 18.44 and a beta of 2.18.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 4.20%. Crescent Energy’s dividend payout ratio is currently -69.57%.

Insider Buying and Selling

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the transaction, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 24,932 shares of company stock worth $263,219 over the last 90 days. 13.20% of the stock is owned by insiders.

Crescent Energy 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.