Royce & Associates LP Sells 338,018 Shares of Crescent Energy (NYSE:CRGY)

Royce & Associates LP lessened its position in Crescent Energy (NYSE:CRGY) by 33.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 679,838 shares of the company’s stock after selling 338,018 shares during the quarter. Royce & Associates LP owned 0.30% of Crescent Energy worth $9,932,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CRGY. Jones Financial Companies Lllp raised its position 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 purchasing an additional 2,377 shares during the period. Amalgamated Bank grew its stake in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after buying an additional 1,621 shares during the period. Zacks Investment Management bought a new stake in shares of Crescent Energy during the 3rd quarter worth approximately $121,000. Finally, Toth Financial Advisory Corp purchased a new position in Crescent Energy during the 4th quarter valued at $131,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRGY has been the topic of a number of recent analyst reports. Mizuho increased their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Crescent Energy currently has an average rating of “Moderate Buy” and an average price target of $17.45.

Insider Activity

In other Crescent Energy news, Director Michael Duginski acquired 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now directly owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This trade represents a 1.74 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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. Company insiders own 13.20% of the company’s stock.

Crescent Energy Trading Up 1.3 %

CRGY opened at $11.06 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 17.83 and a beta of 2.18. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The stock has a fifty day moving average price of $14.29 and a 200-day moving average price of $13.48.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

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.