Ameriprise Financial Inc. Grows Stock Holdings in Crescent Energy (NYSE:CRGY)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp grew its position in Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after acquiring an additional 2,377 shares in the last quarter. Quarry LP grew its position 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 acquiring an additional 3,155 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in Crescent Energy in the fourth quarter worth $131,000. Paloma Partners Management Co purchased a new stake in Crescent Energy during the fourth quarter valued at about $146,000. Finally, PNC Financial Services Group Inc. boosted its position in Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after buying an additional 8,942 shares during the period. Institutional investors own 52.11% of the company's stock.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Duginski purchased 4,000 shares of Crescent Energy stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the acquisition, the director now owns 233,607 shares in the company, valued at $2,424,840.66. The trade was a 1.74% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 24,932 shares of company stock worth $263,219 in the last 90 days. 13.20% of the stock is currently owned by insiders.

Crescent Energy Stock Performance

CRGY stock traded down $0.07 on Friday, hitting $8.56. The company had a trading volume of 3,569,549 shares, compared to its average volume of 3,357,179. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock's 50-day simple moving average is $9.07 and its 200 day simple moving average is $12.47. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 13.80 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly 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 business had revenue of $950.17 million for 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%. As a group, equities research analysts expect that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's dividend payout ratio is presently -106.67%.

Analyst Ratings Changes

A number of research firms recently issued reports on CRGY. Citigroup downgraded shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research note on Monday, March 3rd. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Crescent Energy has an average rating of "Moderate Buy" and an average target price of $16.30.

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.