Crescent Energy (NYSE:CRGY) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in Crescent Energy (NYSE:CRGY) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,574 shares of the company’s stock after buying an additional 25,447 shares during the quarter. Wells Fargo & Company MN owned about 0.09% of Crescent Energy worth $3,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRGY. Vanguard Group Inc. grew its position in Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock valued at $303,150,000 after buying an additional 4,332,831 shares during the period. American Century Companies Inc. increased its holdings in shares of Crescent Energy by 12.7% in the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock valued at $185,561,000 after purchasing an additional 1,436,084 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Crescent Energy during the 4th quarter worth $170,905,000. Bank of New York Mellon Corp raised its stake in Crescent Energy by 55.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock worth $135,316,000 after purchasing an additional 3,305,833 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after buying an additional 3,354,362 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Down 0.4 %

Shares of NYSE:CRGY opened at $8.27 on Thursday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 13.34 and a beta of 1.88. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. 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 stock’s 50-day moving average price is $10.68 and its two-hundred day moving average price is $13.07.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s dividend payout ratio is currently -69.57%.

Insiders Place Their Bets

In related news, Director Michael Duginski bought 4,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at $2,424,840.66. This trade represents a 1.74 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. Insiders acquired a total of 24,932 shares of company stock worth $263,219 over the last ninety days. 13.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRGY shares. KeyCorp decreased their target price on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Truist Financial raised their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Moderate Buy” and an average 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.