Raymond James Financial Inc. Purchases Shares of 123,986 Crescent Energy (NYSE:CRGY)

Raymond James Financial Inc. bought a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 123,986 shares of the company's stock, valued at approximately $1,811,000. Raymond James Financial Inc. owned 0.05% of Crescent Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in shares of Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after acquiring an additional 2,377 shares in the last quarter. GAMMA Investing LLC raised its holdings in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after purchasing an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in Crescent Energy during the fourth quarter valued at $131,000. PNC Financial Services Group Inc. lifted its position in Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after buying an additional 8,942 shares during the period. Finally, Olympiad Research LP bought a new stake in shares of Crescent Energy during the 4th quarter valued at $174,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Crescent Energy stock traded down $0.41 during midday trading on Monday, reaching $8.21. 5,771,056 shares of the company traded hands, compared to its average volume of 3,316,883. Crescent Energy has a 12 month low of $6.83 and a 12 month 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. The business has a 50 day moving average of $9.83 and a two-hundred day moving average of $12.86. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.25 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.10. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. As a group, research analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 5.84%. Crescent Energy's payout ratio is -69.57%.

Analysts Set New Price Targets

Several research firms recently commented on CRGY. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Stephens reissued an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Truist Financial raised their price objective on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Williams Trading set a $16.00 price target on Crescent Energy in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Crescent Energy has an average rating of "Moderate Buy" and a consensus target price of $16.80.

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 transaction of $29,221,844.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Duginski bought 4,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at $2,424,840.66. This trade represents a 1.74 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 24,932 shares of company stock worth $263,219 in the last three months. 13.20% of the stock is currently owned by company insiders.

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.