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 dated Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the transaction, the director now owns 259,607 shares in the company, 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 filing with the SEC, which is available at this hyperlink.

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 purchased at an average price of $10.38 per share, with a total value of $41,520.00.

Crescent Energy Stock Up 3.6 %

NYSE CRGY opened at $10.87 on Friday. 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 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 50 day moving average of $14.38 and a 200-day moving average of $13.46. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94.

Crescent Energy Announces Dividend

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

Institutional Trading of Crescent Energy

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after purchasing an additional 3,135 shares during the period. Amalgamated Bank lifted its holdings in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Crescent Energy by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company’s stock worth $7,755,000 after acquiring an additional 46,448 shares during the period. Royce & Associates LP acquired a new stake in shares of Crescent Energy during the 3rd quarter worth approximately $11,146,000. Finally, Empowered Funds LLC increased its stake in Crescent Energy by 11.4% in the third quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock valued at $10,132,000 after acquiring an additional 94,948 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CRGY. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Truist Financial lifted their price objective 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. Raymond James increased their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Mizuho lifted their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

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.