Barclays PLC Grows Position in Crescent Energy (NYSE:CRGY)

Barclays PLC raised its stake in Crescent Energy (NYSE:CRGY - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 292,319 shares of the company's stock after acquiring an additional 51,182 shares during the period. Barclays PLC owned approximately 0.13% of Crescent Energy worth $4,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Crescent Energy by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock worth $553,000 after purchasing an additional 897 shares during the last quarter. GAMMA Investing LLC increased its stake in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after acquiring an additional 1,621 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Crescent Energy by 10.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company's stock worth $354,000 after acquiring an additional 2,306 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Crescent Energy by 206.7% during 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. Finally, Summit Investment Advisors Inc. boosted its position in shares of Crescent Energy by 17.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 17,003 shares of the company's stock valued at $248,000 after acquiring an additional 2,469 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Stock Up 1.1 %

NYSE CRGY traded up $0.10 during trading on Friday, reaching $8.59. 500,252 shares of the company's stock traded hands, compared to its average volume of 3,273,108. The company's 50 day simple moving average is $9.93 and its two-hundred day simple moving average is $12.88. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 13.86 and a beta of 1.88. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 5.59%. Crescent Energy's dividend payout ratio is currently -69.57%.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Duginski bought 4,000 shares of the firm's stock in a transaction that occurred 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 $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRGY. Williams Trading set a $16.00 price target on Crescent Energy in a report on Wednesday, March 5th. Truist Financial raised their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, KeyCorp cut their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $16.80.

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.