193,954 Shares in Crescent Energy (NYSE:CRGY) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 193,954 shares of the company's stock, valued at approximately $2,834,000. BNP Paribas Financial Markets owned about 0.08% of Crescent Energy as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CRGY. 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. American Century Companies Inc. grew its holdings in shares of Crescent Energy by 12.7% in the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock valued at $185,561,000 after acquiring an additional 1,436,084 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Crescent Energy in the fourth quarter valued at about $170,905,000. Bank of New York Mellon Corp increased its position in shares of Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock valued at $135,316,000 after acquiring an additional 3,305,833 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after acquiring an additional 3,354,362 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Insider Activity

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Duginski acquired 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares of the company's stock, valued at $2,744,045.99. This trade represents a 8.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRGY shares. Raymond James reaffirmed a "strong-buy" rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. KeyCorp dropped their target price on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, Mizuho cut their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and an average price target of $16.30.

Crescent Energy Price Performance

Shares of NYSE CRGY traded down $0.18 during mid-day trading on Wednesday, reaching $8.87. The company had a trading volume of 186,627 shares, compared to its average volume of 3,338,981. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The business's 50-day simple moving average is $9.21 and its 200 day simple moving average is $12.56. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 14.28 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million during the quarter, compared to analysts' expectations of $937.55 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. On average, research analysts predict that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's payout ratio is -106.67%.

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.