123,986 Shares in Crescent Energy (NYSE:CRGY) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Crescent Energy (NYSE:CRGY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 123,986 shares of the company’s stock, valued at approximately $1,811,000. Raymond James Financial Inc. owned 0.05% of Crescent Energy at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares in the last quarter. GAMMA Investing LLC increased its stake in Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after buying an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in Crescent Energy during the 4th quarter worth $131,000. PNC Financial Services Group Inc. lifted 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 in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Crescent Energy in the fourth quarter valued at about $174,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

Shares of CRGY opened at $8.49 on Friday. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. 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 company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.69 and a beta of 1.88. The business’s 50-day moving average is $9.93 and its 200-day moving average is $12.88.

Crescent Energy Announces Dividend

The firm 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. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.66%. Crescent Energy’s payout ratio is presently -69.57%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their target price on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. KeyCorp dropped their price objective on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Mizuho raised their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Truist Financial increased their price target on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.80.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Duginski acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the acquisition, the director now directly owns 233,607 shares of the company’s stock, valued at $2,424,840.66. This trade represents a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company’s stock.

Crescent Energy 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.