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

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

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of Crescent Energy during the 4th quarter worth $1,811,000. SCP Investment LP bought a new stake in Crescent Energy during the fourth quarter valued at about $409,000. Clearbridge Investments LLC purchased a new stake in Crescent Energy in the fourth quarter worth about $9,869,000. Thrivent Financial for Lutherans bought a new position in shares of Crescent Energy in the fourth quarter worth about $2,981,000. Finally, Vanguard Group Inc. lifted its position in shares of Crescent Energy by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock valued at $303,150,000 after buying an additional 4,332,831 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

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 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 accessible through the SEC website. Also, Director Michael Duginski bought 4,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $10.38 per share, with a total value of $41,520.00. Following the completion of the purchase, the director now owns 233,607 shares of the company's stock, valued at $2,424,840.66. This represents 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.

Crescent Energy Trading Up 1.3%

CRGY stock traded up $0.12 during midday trading on Tuesday, reaching $9.09. The company's stock had a trading volume of 652,149 shares, compared to its average volume of 3,349,307. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.69 and a beta of 1.86. The stock has a fifty day simple moving average of $9.24 and a two-hundred day simple moving average of $12.58. 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 (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. On average, equities research analysts predict 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. Shareholders of record on Monday, May 19th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a yield of 5.28%. Crescent Energy's dividend payout ratio is currently -106.67%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Williams Trading set a $16.00 target price on Crescent Energy in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price target 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. Raymond James restated a "strong-buy" rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Stephens reaffirmed an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of "Moderate Buy" and a consensus price target of $16.30.

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.