Michael Duginski Purchases 20,000 Shares of Crescent Energy (NYSE:CRGY) Stock

Crescent Energy (NYSE:CRGY) Director Michael Duginski acquired 20,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, March 11th, Michael Duginski bought 4,000 shares of Crescent Energy stock. The stock was acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00.

Crescent Energy Trading Up 3.6 %

CRGY opened at $10.87 on Friday. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 17.52 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $14.38 and a 200 day simple moving average of $13.48.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is currently -69.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares during the period. Amalgamated Bank increased its stake in shares of Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Crescent Energy by 7.0% in the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company’s stock valued at $7,755,000 after acquiring an additional 46,448 shares during the period. Royce & Associates LP bought a new position in Crescent Energy during the 3rd quarter worth approximately $11,146,000. Finally, Empowered Funds LLC grew its holdings in 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 during the period. 52.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRGY has been the subject of a number of recent analyst reports. Raymond James raised their price target on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. Mizuho raised their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Truist Financial upped their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.45.

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.