Insider Buying: Crescent Energy (NYSE:CRGY) Insider Purchases 950 Shares of Stock

Crescent Energy (NYSE:CRGY) insider Bo Shi purchased 950 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were purchased at an average price of $11.13 per share, with a total value of $10,573.50. Following the acquisition, the insider now directly owns 45,811 shares in the company, valued at $509,876.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Crescent Energy Stock Down 3.1 %

Crescent Energy stock opened at $10.38 on Tuesday. The firm has a market capitalization of $1.84 billion, a P/E ratio of -51.87 and a beta of 2.26. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85. The stock’s fifty day simple moving average is $11.58 and its 200-day simple moving average is $11.61.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $653.28 million for the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. As a group, equities analysts expect that Crescent Energy will post 1.43 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.12 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a yield of 4.63%. Crescent Energy’s dividend payout ratio (DPR) is -239.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRGY. Vanguard Group Inc. lifted its position in shares of Crescent Energy by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after purchasing an additional 1,137,367 shares during the last quarter. American Century Companies Inc. lifted its holdings in Crescent Energy by 444.8% during the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Crescent Energy by 22,968.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock worth $48,328,000 after acquiring an additional 3,642,584 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Crescent Energy by 286.7% in the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Crescent Energy by 85.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after acquiring an additional 1,226,027 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRGY. Mizuho raised their target price on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wolfe Research initiated coverage on Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company. Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. KeyCorp initiated coverage on Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Truist Financial cut their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Buy” and a consensus price target 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.