Insider Buying: Crescent Energy (NYSE:CRGY) Insider Acquires $10,573.50 in Stock

Crescent Energy (NYSE:CRGY) insider Bo Shi acquired 950 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of $11.13 per share, for a total transaction of $10,573.50. Following the completion of the acquisition, the insider now owns 45,811 shares of the company’s stock, valued at $509,876.43. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Crescent Energy Stock Down 0.6 %

Crescent Energy stock opened at $10.31 on Thursday. The firm has a market capitalization of $1.83 billion, a PE ratio of -51.55 and a beta of 2.26. The company’s 50-day moving average is $11.50 and its 200-day moving average is $11.59. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $13.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Sell-side analysts anticipate that Crescent Energy will post 1.43 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Monday, August 19th. Crescent Energy’s payout ratio is -240.00%.

Analyst Upgrades and Downgrades

CRGY has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Crescent Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Truist Financial dropped their price objective on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. KeyCorp initiated coverage on shares of Crescent Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Crescent Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Tuesday, August 6th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $16.80.

Institutional Trading of Crescent Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Asset Management Ltd. bought a new stake in shares of Crescent Energy during the 1st quarter worth about $2,877,000. Vanguard Group Inc. boosted its holdings in shares of Crescent Energy by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock worth $107,945,000 after buying an additional 530,199 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Crescent Energy by 901.7% during the 1st quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock worth $1,198,000 after buying an additional 90,630 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Crescent Energy during the 4th quarter worth about $1,393,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Crescent Energy during the 2nd quarter worth about $769,000. Institutional investors own 52.11% of the company’s stock.

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.