Capital Fund Management S.A. Takes $2.57 Million Position in Crescent Energy (NYSE:CRGY)

Capital Fund Management S.A. acquired a new position in Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 175,673 shares of the company's stock, valued at approximately $2,567,000. Capital Fund Management S.A. owned approximately 0.08% of Crescent Energy as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CRGY. Raymond James Financial Inc. acquired a new position in Crescent Energy during the fourth quarter valued at approximately $1,811,000. Legal & General Group Plc lifted its holdings in shares of Crescent Energy by 236.2% during the 4th quarter. Legal & General Group Plc now owns 449,219 shares of the company's stock valued at $6,563,000 after acquiring an additional 315,599 shares in the last quarter. Invesco Ltd. boosted its position in Crescent Energy by 117.7% during the 4th quarter. Invesco Ltd. now owns 1,384,228 shares of the company's stock worth $20,224,000 after purchasing an additional 748,299 shares during the period. Bank of Montreal Can increased its holdings in Crescent Energy by 140.8% in the 4th quarter. Bank of Montreal Can now owns 32,949 shares of the company's stock valued at $481,000 after purchasing an additional 19,265 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Crescent Energy in the fourth quarter valued at about $4,360,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Duginski acquired 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the acquisition, the director now owns 259,607 shares in the company, valued at approximately $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. Insiders have bought a total of 24,932 shares of company stock valued at $263,219 in the last quarter. Insiders own 13.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CRGY shares. Williams Trading set a $16.00 target price on Crescent Energy in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Mizuho upped their target price on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Siebert Williams Shank started coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Finally, 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 report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Crescent Energy Stock Up 2.8 %

Shares of Crescent Energy stock traded up $0.23 during trading on Friday, reaching $8.36. The company had a trading volume of 3,660,911 shares, compared to its average volume of 3,222,744. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The firm's fifty day moving average is $11.07 and its 200-day moving average is $13.17. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 13.48 and a beta of 1.88.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's payout ratio is currently -69.57%.

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.