Insider Buying: Crescent Energy (NYSE:CRGY) Insider Acquires 5,000 Shares of Stock

Crescent Energy (NYSE:CRGY) insider David C. Rockecharlie purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $10.68 per share, for a total transaction of $53,400.00. Following the completion of the acquisition, the insider now owns 70,000 shares of the company’s stock, valued at approximately $747,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Crescent Energy Price Performance

Crescent Energy stock traded down $0.30 during midday trading on Thursday, reaching $11.20. 35,863 shares of the stock were exchanged, compared to its average volume of 578,650. The company’s fifty day moving average is $11.95 and its 200-day moving average is $11.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $1.87 billion, a PE ratio of 13.38, a PEG ratio of 8.18 and a beta of 2.38. Crescent Energy has a 52 week low of $9.17 and a 52 week high of $14.59.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Friday, November 17th. Crescent Energy’s dividend payout ratio (DPR) is presently 55.81%.

Analyst Ratings Changes

Several research analysts recently weighed in on CRGY shares. Bank of America boosted their price target on shares of Crescent Energy from $12.00 to $13.00 in a report on Wednesday, September 27th. Stephens began coverage on shares of Crescent Energy in a research note on Tuesday, September 26th. They issued an “overweight” rating and a $17.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Truist Financial boosted their target price on shares of Crescent Energy from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. Finally, Mizuho boosted their target price on shares of Crescent Energy from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.17.

Institutional Trading of Crescent Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. increased its holdings in shares of Crescent Energy by 4.3% in the 2nd quarter. American International Group Inc. now owns 15,210 shares of the company’s stock worth $190,000 after buying an additional 625 shares during the last quarter. Magnolia Capital Advisors LLC increased its holdings in shares of Crescent Energy by 0.8% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 125,509 shares of the company’s stock worth $1,550,000 after buying an additional 982 shares during the last quarter. UBS Group AG increased its holdings in shares of Crescent Energy by 8.0% in the 3rd quarter. UBS Group AG now owns 13,500 shares of the company’s stock worth $182,000 after buying an additional 1,000 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Crescent Energy by 9.1% in the 2nd quarter. Arizona State Retirement System now owns 12,205 shares of the company’s stock worth $127,000 after buying an additional 1,014 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Crescent Energy by 3.7% in the 1st quarter. Sei Investments Co. now owns 35,265 shares of the company’s stock worth $399,000 after buying an additional 1,265 shares during the last quarter. Institutional investors own 53.31% of the company’s stock.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, and Mid-Con in the United States.