Quantbot Technologies LP Has $2.67 Million Holdings in Crescent Energy (NYSE:CRGY)

Quantbot Technologies LP boosted its holdings in shares of Crescent Energy (NYSE:CRGY) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,755 shares of the company’s stock after buying an additional 39,492 shares during the quarter. Quantbot Technologies LP’s holdings in Crescent Energy were worth $2,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRGY. Jones Financial Companies Lllp increased its position in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after buying an additional 2,377 shares during the last quarter. GAMMA Investing LLC increased its position in Crescent Energy by 48.3% during 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 last quarter. Zacks Investment Management acquired a new position in Crescent Energy during the third quarter worth approximately $121,000. Toth Financial Advisory Corp acquired a new position in Crescent Energy during the fourth quarter worth approximately $131,000. Finally, PNC Financial Services Group Inc. increased its position in Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock worth $152,000 after buying an additional 8,942 shares during the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRGY shares. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a report on Monday, March 3rd. Citigroup cut Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Siebert Williams Shank started coverage on Crescent Energy in a report on Monday, February 3rd. They set a “buy” rating for the company. Truist Financial boosted their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Mizuho boosted their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has an average rating of “Moderate Buy” and an average price target of $17.45.

Crescent Energy Stock Down 1.8 %

NYSE CRGY opened at $11.44 on Friday. The business has a fifty day moving average price of $13.95 and a two-hundred day moving average price of $13.46. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The stock has a market capitalization of $2.96 billion, a PE ratio of 18.44 and a beta of 2.18.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.20%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s payout ratio is presently -69.57%.

Insiders Place Their Bets

In related news, Director Michael Duginski purchased 20,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the acquisition, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. This represents a 8.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders acquired 24,932 shares of company stock worth $263,219 over the last three months. Insiders own 13.20% of the company’s stock.

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.