Ameriprise Financial Inc. Purchases 221,503 Shares of Crescent Energy (NYSE:CRGY)

Ameriprise Financial Inc. lifted its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 39.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 780,049 shares of the company's stock after purchasing an additional 221,503 shares during the quarter. Ameriprise Financial Inc. owned 0.34% of Crescent Energy worth $11,397,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have commented on CRGY. Mizuho reduced their price target on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Stephens reiterated an "overweight" rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. KeyCorp lowered their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $16.30.

Crescent Energy Trading Down 0.8%

Shares of NYSE:CRGY traded down $0.07 during midday trading on Thursday, hitting $8.62. 2,963,096 shares of the stock traded hands, compared to its average volume of 3,346,102. 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 business's 50 day moving average is $9.17 and its two-hundred day moving average is $12.53. The stock has a market capitalization of $2.20 billion, a PE ratio of 13.90 and a beta of 1.86. Crescent Energy has a one year low of $6.83 and a one year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $950.17 million for the quarter, compared to the consensus estimate of $937.55 million. As a group, research analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.57%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Insider Activity at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business'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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Duginski acquired 20,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the completion of the acquisition, the director now directly 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. Insiders acquired a total of 24,932 shares of company stock worth $263,219 over the last quarter. 13.20% of the stock is owned by corporate insiders.

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.