Crescent Energy (NYSE:CRGY) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Crescent Energy (NYSE:CRGY) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 756,002 shares of the company’s stock after purchasing an additional 47,797 shares during the quarter. Victory Capital Management Inc. owned approximately 0.33% of Crescent Energy worth $11,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. 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 buying an additional 3,135 shares in the last quarter. Amalgamated Bank boosted its holdings in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. Royce & Associates LP purchased a new stake in Crescent Energy during the 3rd quarter worth about $11,146,000. Empowered Funds LLC lifted its holdings in Crescent Energy by 11.4% during the 3rd quarter. Empowered Funds LLC now owns 925,301 shares of the company’s stock worth $10,132,000 after buying an additional 94,948 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Crescent Energy during the 3rd quarter worth about $189,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Insider Activity

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Duginski bought 4,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the acquisition, the director now directly owns 233,607 shares of the company’s stock, valued at $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRGY. Citigroup downgraded Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Williams Trading set a $16.00 target price on Crescent Energy in a research note on Wednesday, March 5th. Mizuho increased their price target on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Stephens reissued 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 given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.45.

Crescent Energy Stock Down 2.2 %

Shares of Crescent Energy stock opened at $10.49 on Friday. The business has a 50-day moving average of $14.55 and a 200-day moving average of $13.49. 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 $2.71 billion, a PE ratio of 16.91 and a beta of 2.18. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.58%. Crescent Energy’s dividend payout ratio is presently -69.57%.

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.