Crescent Energy (NYSE:CRGY) Director Michael Duginski Purchases 1,000 Shares

Crescent Energy (NYSE:CRGY) Director Michael Duginski acquired 1,000 shares of Crescent Energy stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $11.00 per share, with a total value of $11,000.00. Following the purchase, the director now owns 211,000 shares in the company, valued at $2,321,000. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Michael Duginski also recently made the following trade(s):

• On Thursday, August 8th, Michael Duginski purchased 9,344 shares of Crescent Energy stock. The stock was purchased at an average cost of $10.62 per share, for a total transaction of $99,233.28.

Crescent Energy Stock Performance

CRGY opened at $11.45 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $14.22. The firm has a 50 day moving average of $11.66 and a two-hundred day moving average of $11.58. The firm has a market capitalization of $2.03 billion, a PE ratio of -57.23 and a beta of 2.32.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. On average, analysts anticipate that Crescent Energy will post 1.53 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be issued a $0.12 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 4.19%. Crescent Energy’s dividend payout ratio (DPR) is presently -240.00%.

Institutional Trading of Crescent Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crescent Energy by 85.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,151 shares of the company’s stock valued at $345,000 after acquiring an additional 12,054 shares during the period. Amalgamated Bank boosted its holdings in Crescent Energy by 58.5% during the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after buying an additional 2,748 shares in the last quarter. Carson Advisory Inc. acquired a new stake in Crescent Energy during the fourth quarter valued at $144,000. Charles Schwab Investment Management Inc. increased its holdings in Crescent Energy by 36.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 642,578 shares of the company’s stock valued at $8,488,000 after buying an additional 171,579 shares in the last quarter. Finally, Versor Investments LP raised its position in shares of Crescent Energy by 68.1% in the fourth quarter. Versor Investments LP now owns 20,000 shares of the company’s stock worth $264,000 after acquiring an additional 8,100 shares during the period. 52.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRGY has been the subject of a number of recent analyst reports. Mizuho raised their price objective on Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Wells Fargo & Company assumed coverage on Crescent Energy in a research note on Thursday, August 8th. They set an “overweight” rating and a $20.00 price target on the stock. Wolfe Research initiated coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price objective for the company. KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 target price for the company. Finally, Truist Financial cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Crescent Energy currently has a consensus rating of “Buy” and an average price target of $16.70.

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.