Michael Duginski Purchases 4,000 Shares of Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY) Director Michael Duginski purchased 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost 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 approximately $2,424,840.66. This trade represents a 1.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Duginski also recently made the following trade(s):

• On Thursday, March 13th, Michael Duginski purchased 20,000 shares of Crescent Energy stock. The shares were purchased at an average cost of $10.57 per share, for a total transaction of $211,400.00.

Crescent Energy Price Performance

NYSE:CRGY opened at $10.87 on Friday. 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 business’s 50-day simple moving average is $14.38 and its two-hundred day simple moving average is $13.46. The stock has a market cap of $2.81 billion, a PE ratio of 17.52 and a beta of 2.18. 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 declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 4.42%. Crescent Energy’s dividend payout ratio is presently -69.57%.

Analyst Upgrades and Downgrades

CRGY has been the topic of several research analyst reports. Truist Financial increased their price target on Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho raised their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Citigroup cut Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Raymond James raised their target price on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

Institutional Investors Weigh In On Crescent Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock valued at $74,285,000 after purchasing an additional 2,986,468 shares in the last quarter. Empowered Funds LLC grew its position in shares of Crescent Energy by 11.4% during the third quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock valued at $10,132,000 after purchasing an additional 94,948 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Crescent Energy by 53.2% during the third quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after purchasing an additional 1,164,306 shares in the last quarter. Amalgamated Bank grew its position in shares of Crescent Energy by 919.0% during the fourth quarter. Amalgamated Bank now owns 49,961 shares of the company’s stock valued at $730,000 after purchasing an additional 45,058 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Crescent Energy during the fourth quarter valued at about $1,233,000. 52.11% of the stock is owned by institutional investors.

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.