Bo Shi Purchases 950 Shares of Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY) insider Bo Shi bought 950 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of $11.13 per share, with a total value of $10,573.50. Following the transaction, the insider now owns 45,811 shares of the company’s stock, valued at approximately $509,876.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $10.38 on Wednesday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -51.88 and a beta of 2.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The company has a 50-day simple moving average of $11.54 and a 200 day simple moving average of $11.60. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. On average, sell-side analysts predict that Crescent Energy will post 1.43 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is -240.00%.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CRGY. American Century Companies Inc. raised its stake in Crescent Energy by 444.8% in the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after purchasing an additional 6,348,598 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Crescent Energy by 22,968.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after purchasing an additional 3,642,584 shares in the last quarter. Marshall Wace LLP raised its stake in Crescent Energy by 286.7% in the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after purchasing an additional 2,098,303 shares in the last quarter. Zimmer Partners LP acquired a new stake in Crescent Energy in the 1st quarter worth about $17,731,000. Finally, Pingora Partners LLC acquired a new stake in Crescent Energy in the 4th quarter worth about $17,554,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRGY. Wells Fargo & Company lifted their price objective on shares of Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Stephens reissued an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. Truist Financial decreased their price objective on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Wolfe Research began coverage on shares of Crescent Energy in a research report 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 report 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 issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $16.80.

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.