Xponance Inc. Invests $308,000 in Crescent Energy (NYSE:CRGY)

Xponance Inc. bought a new stake in shares of Crescent Energy (NYSE:CRGY) during the 4th quarter, Holdings Channel.com reports. The firm bought 21,064 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake 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 worth $74,285,000 after purchasing an additional 2,986,468 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Crescent Energy by 53.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after buying an additional 1,164,306 shares during the period. Amalgamated Bank lifted its position in Crescent Energy by 919.0% during the 4th quarter. Amalgamated Bank now owns 49,961 shares of the company’s stock worth $730,000 after acquiring an additional 45,058 shares in the last quarter. M&T Bank Corp purchased a new position in Crescent Energy in the 4th quarter worth approximately $683,000. Finally, Victory Capital Management Inc. grew its position in Crescent Energy by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 756,002 shares of the company’s stock valued at $11,045,000 after acquiring an additional 47,797 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the acquisition, the director now directly owns 259,607 shares of the company’s stock, 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 acquired a total of 24,932 shares of company stock valued at $263,219 over the last 90 days. 13.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CRGY has been the topic of a number of recent research reports. Citigroup cut shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research report on Wednesday, March 5th. Raymond James lifted their target price on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Siebert Williams Shank started coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating on the stock. Finally, Stephens restated an “overweight” rating and set a $17.00 price objective 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 issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.55.

Crescent Energy Trading Down 2.0 %

NYSE:CRGY opened at $11.25 on Friday. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. 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 cap of $2.91 billion, a PE ratio of 18.14 and a beta of 2.18. The business’s 50 day moving average is $13.54 and its two-hundred day moving average is $13.46.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.27%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is presently -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.