Cibc World Markets Corp Acquires Shares of 15,210 Crescent Energy (NYSE:CRGY)

Cibc World Markets Corp acquired a new position in shares of Crescent Energy (NYSE:CRGY) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 15,210 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC acquired a new position in Crescent Energy in the fourth quarter worth about $212,000. Picton Mahoney Asset Management lifted its holdings in Crescent Energy by 13,645.4% during the 4th quarter. Picton Mahoney Asset Management now owns 14,845 shares of the company’s stock worth $217,000 after buying an additional 14,737 shares during the last quarter. Swiss National Bank grew its position in shares of Crescent Energy by 21.3% in the 4th quarter. Swiss National Bank now owns 345,067 shares of the company’s stock worth $5,041,000 after acquiring an additional 60,700 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Crescent Energy in the 4th quarter valued at approximately $6,133,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Crescent Energy during the 4th quarter valued at approximately $193,000. Institutional investors own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

CRGY has been the subject of a number of research reports. JPMorgan Chase & Co. decreased 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. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research report on Wednesday, March 5th. Citigroup cut shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Raymond James upped their target price on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Mizuho raised their price target on 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 assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Crescent Energy presently has an average rating of “Moderate Buy” and an average price target of $17.55.

Insiders Place Their Bets

In other news, Director Michael Duginski acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the acquisition, the director now directly owns 233,607 shares in the company, valued at $2,424,840.66. This represents a 1.74 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. In the last three months, insiders have purchased 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate insiders.

Crescent Energy Price Performance

Shares of CRGY opened at $11.50 on Thursday. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. The stock’s fifty day moving average is $13.65 and its 200-day moving average is $13.48. 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 firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 18.54 and a beta of 2.18.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.18%. Crescent Energy’s payout ratio 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.