12,818 Shares in Crescent Energy (NYSE:CRGY) Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. purchased a new position in Crescent Energy (NYSE:CRGY) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,818 shares of the company’s stock, valued at approximately $187,000.

A number of other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its position in Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock worth $52,000 after purchasing an additional 2,377 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Toth Financial Advisory Corp acquired a new stake in Crescent Energy during the fourth quarter valued at $131,000. PNC Financial Services Group Inc. increased its holdings in Crescent Energy by 619.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after buying an additional 8,942 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in Crescent Energy in the fourth quarter valued at approximately $174,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 5.5 %

Shares of CRGY opened at $8.37 on Friday. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $9.47 and a two-hundred day simple moving average of $12.73. The company has a market capitalization of $2.16 billion, a PE ratio of 13.50 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million during the quarter, compared to analysts’ expectations of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. As a group, equities analysts forecast that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy’s dividend payout ratio is presently -69.57%.

Insiders Place Their Bets

In other news, Director Michael Duginski purchased 20,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were bought 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. This trade represents a 8.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction on Monday, March 10th. The shares were 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 valued at $263,219 over the last quarter. 13.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Mizuho boosted their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial lifted their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

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.