Crescent Energy (NYSE:CRGY) Director Michael Duginski Buys 4,000 Shares

Crescent Energy (NYSE:CRGY) Director Michael Duginski acquired 4,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now directly owns 233,607 shares of the company’s stock, valued at approximately $2,424,840.66. This trade represents a 1.74 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, March 13th, Michael Duginski purchased 20,000 shares of Crescent Energy stock. The shares were acquired at an average cost of $10.57 per share, with a total value of $211,400.00.

Crescent Energy Price Performance

CRGY traded down $0.23 during trading hours on Thursday, hitting $10.49. The company’s stock had a trading volume of 4,519,987 shares, compared to its average volume of 3,017,735. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $14.55 and its 200-day moving average price is $13.49. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 16.91 and a beta of 2.18.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 4.58%. Crescent Energy’s dividend payout ratio is currently -69.57%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRGY. Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating on the stock. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research report on Wednesday, March 5th. Citigroup cut Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Raymond James lifted their target price on Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Truist Financial lifted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.45.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors have recently modified their holdings of CRGY. GF Fund Management CO. LTD. purchased a new stake in Crescent Energy during the 4th quarter valued at $754,000. Public Employees Retirement System of Ohio lifted its stake in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock worth $40,000 after acquiring an additional 705 shares during the last quarter. Neo Ivy Capital Management boosted its stake in shares of Crescent Energy by 547.9% during the fourth quarter. Neo Ivy Capital Management now owns 254,706 shares of the company’s stock valued at $3,721,000 after purchasing an additional 215,396 shares during the period. GTS Securities LLC purchased a new position in Crescent Energy in the 4th quarter worth about $465,000. Finally, PharVision Advisers LLC bought a new stake in Crescent Energy during the 4th quarter valued at about $267,000. 52.11% of the stock is owned by institutional investors.

About Crescent Energy

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.