Crescent Energy (NYSE:CRGY) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in shares of Crescent Energy (NYSE:CRGY) by 21.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,067 shares of the company’s stock after acquiring an additional 60,700 shares during the period. Swiss National Bank owned 0.15% of Crescent Energy worth $5,041,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CRGY. Jupiter Asset Management Ltd. purchased a new stake in shares of Crescent Energy in the fourth quarter valued at approximately $6,133,000. Johnson Investment Counsel Inc. purchased a new stake in Crescent Energy in the 4th quarter valued at $193,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Crescent Energy by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,329 shares of the company’s stock worth $765,000 after acquiring an additional 3,779 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after acquiring an additional 8,942 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in shares of Crescent Energy in the fourth quarter valued at about $1,648,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRGY. Wells Fargo & Company reduced their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday. Raymond James lifted their price target 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. Citigroup lowered Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Stephens restated an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Siebert Williams Shank assumed coverage on Crescent Energy in a report on Monday, February 3rd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.55.

Crescent Energy Stock Performance

NYSE CRGY opened at $11.67 on Tuesday. 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 cap of $3.02 billion, a P/E ratio of 18.81 and a beta of 2.18. The stock has a 50-day moving average of $13.86 and a two-hundred day moving average of $13.48. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is currently -69.57%.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski acquired 4,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now owns 233,607 shares in the company, valued at approximately $2,424,840.66. This trade represents a 1.74 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders acquired 24,932 shares of company stock valued at $263,219 in the last 90 days. Company 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.