Deutsche Bank AG Grows Stock Holdings in Crescent Energy (NYSE:CRGY)

Deutsche Bank AG boosted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 23.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,205,428 shares of the company's stock after purchasing an additional 226,200 shares during the quarter. Deutsche Bank AG owned approximately 0.53% of Crescent Energy worth $17,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after buying an additional 2,377 shares in the last quarter. Quarry LP increased its stake in Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares during the period. Toth Financial Advisory Corp bought a new stake in Crescent Energy during the 4th quarter valued at about $131,000. Paloma Partners Management Co bought a new stake in shares of Crescent Energy during the fourth quarter valued at approximately $146,000. Finally, PNC Financial Services Group Inc. raised its position in Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after purchasing an additional 8,942 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Insider Activity at Crescent Energy

In other Crescent Energy news, Director Michael Duginski purchased 20,000 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho dropped their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.30.

Crescent Energy Trading Down 0.3%

Crescent Energy stock opened at $9.47 on Thursday. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a 50-day moving average price of $9.33 and a 200 day moving average price of $12.64. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 15.27 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) 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 net margin of 2.17% and a return on equity of 12.53%. Sell-side analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's dividend payout ratio (DPR) 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.

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