JPMorgan Chase & Co. Acquires 205,760 Shares of Crescent Energy (NYSE:CRGY)

JPMorgan Chase & Co. grew its stake in Crescent Energy (NYSE:CRGY) by 326.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 268,844 shares of the company’s stock after buying an additional 205,760 shares during the quarter. JPMorgan Chase & Co.’s holdings in Crescent Energy were worth $3,928,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Segall Bryant & Hamill LLC boosted its position in Crescent Energy by 4.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,210,907 shares of the company’s stock worth $46,911,000 after acquiring an additional 138,497 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Crescent Energy by 37.9% in the fourth quarter. Prudential Financial Inc. now owns 176,026 shares of the company’s stock worth $2,572,000 after purchasing an additional 48,395 shares in the last quarter. Corebridge Financial Inc. boosted its holdings in Crescent Energy by 13.4% during the fourth quarter. Corebridge Financial Inc. now owns 86,962 shares of the company’s stock worth $1,271,000 after purchasing an additional 10,246 shares during the last quarter. Vanguard Group Inc. grew its position in Crescent Energy by 26.4% in the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock valued at $303,150,000 after purchasing an additional 4,332,831 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Crescent Energy by 359.1% in the 4th quarter. LPL Financial LLC now owns 90,218 shares of the company’s stock valued at $1,318,000 after buying an additional 70,568 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRGY. Williams Trading set a $16.00 target price on Crescent Energy in a report on Wednesday, March 5th. Truist Financial upped their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Siebert Williams Shank began coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Mizuho increased their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Crescent Energy Price Performance

NYSE:CRGY opened at $8.36 on Monday. The company has a market cap of $2.16 billion, a P/E ratio of 13.48 and a beta of 1.88. The firm’s fifty day moving average price is $11.07 and its two-hundred day moving average price is $13.17. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 5.74%. Crescent Energy’s dividend payout ratio (DPR) is currently -69.57%.

Insider Buying and Selling at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the transaction, the director now directly owns 259,607 shares of the company’s stock, valued at $2,744,045.99. This trade represents a 8.35 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,932 shares of company stock valued at $263,219 in the last three months. 13.20% of the stock is currently owned by company insiders.

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.