Crescent Energy (NYSE:CRGY) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Crescent Energy (NYSE:CRGY) by 25.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,984,820 shares of the company’s stock after buying an additional 398,555 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.87% of Crescent Energy worth $28,998,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CRGY. Jones Financial Companies Lllp increased its stake in Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after buying an additional 2,377 shares during the period. Amalgamated Bank increased its stake in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the period. GAMMA Investing LLC increased its stake in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares during the period. Zacks Investment Management acquired a new position in shares of Crescent Energy during the 3rd quarter worth $121,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of Crescent Energy during the 4th quarter worth $131,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Stock Up 1.3 %

Shares of NYSE:CRGY opened at $11.06 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $16.94. The company has a 50 day moving average of $14.29 and a two-hundred day moving average of $13.48. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 17.83 and a beta of 2.18.

Crescent Energy Dividend Announcement

The business also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Wednesday, March 12th. Crescent Energy’s payout ratio is currently -69.57%.

Wall Street Analyst Weigh In

CRGY has been the topic of several recent research reports. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research report on Wednesday, March 5th. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a “buy” rating on the stock. Mizuho boosted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Truist Financial boosted 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.45.

Insider Transactions at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the purchase, 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. Corporate insiders own 13.20% of the company’s stock.

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.