16,714 Shares in Crescent Energy (NYSE:CRGY) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Crescent Energy (NYSE:CRGY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 16,714 shares of the company’s stock, valued at approximately $244,000.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of Crescent Energy during the third quarter valued at about $189,000. Intech Investment Management LLC purchased a new position in Crescent Energy during the 3rd quarter valued at about $350,000. Charles Schwab Investment Management Inc. raised its position in Crescent Energy by 59.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock valued at $17,370,000 after purchasing an additional 589,665 shares during the last quarter. Citigroup Inc. raised its position in Crescent Energy by 335.1% during the 3rd quarter. Citigroup Inc. now owns 343,940 shares of the company’s stock valued at $3,766,000 after purchasing an additional 264,883 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Crescent Energy by 0.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock worth $40,501,000 after buying an additional 33,626 shares during the period. Institutional investors own 52.11% of the company’s stock.

Insider Buying and Selling

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Duginski bought 4,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares of the company’s stock, valued at approximately $2,424,840.66. This represents a 1.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 24,932 shares of company stock worth $263,219 in the last 90 days. Insiders own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup cut Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Siebert Williams Shank began coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating on the stock. Wells Fargo & Company dropped their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday. Mizuho boosted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research 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 for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Crescent Energy Trading Down 0.6 %

NYSE:CRGY opened at $11.50 on Thursday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 18.54 and a beta of 2.18. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a one year low of $9.88 and a one year high of $16.94. The company’s 50-day simple moving average is $13.65 and its 200 day simple moving average is $13.48.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.18%. Crescent Energy’s dividend payout ratio is currently -69.57%.

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.