Rafferty Asset Management LLC Has $2.95 Million Holdings in Crescent Energy (NYSE:CRGY)

Rafferty Asset Management LLC lessened its stake in Crescent Energy (NYSE:CRGY - Free Report) by 29.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,014 shares of the company's stock after selling 86,247 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.09% of Crescent Energy worth $2,951,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRGY. Pacer Advisors Inc. acquired a new stake in shares of Crescent Energy in the 4th quarter valued at approximately $170,905,000. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 4,332,831 shares during the last quarter. Jennison Associates LLC lifted its holdings in Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock valued at $69,914,000 after purchasing an additional 3,354,362 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Crescent Energy by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock valued at $135,316,000 after purchasing an additional 3,305,833 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in Crescent Energy during the 4th quarter valued at $36,593,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, Director Michael Duginski bought 20,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased 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 directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. The trade was 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 Crescent Energy stock in a transaction dated 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. Insiders have acquired a total of 24,932 shares of company stock worth $263,219 over the last 90 days. Insiders own 13.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRGY. Citigroup downgraded Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Siebert Williams Shank began coverage on Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating for the company. KeyCorp cut their price target on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wells Fargo & Company lowered their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Williams Trading set a $16.00 price objective on Crescent Energy in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.30.

Crescent Energy Stock Down 1.6%

Shares of NYSE CRGY opened at $8.98 on Tuesday. 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 52 week low of $6.83 and a 52 week high of $16.94. The stock has a market capitalization of $2.29 billion, a P/E ratio of 14.48 and a beta of 1.86. The stock's fifty day moving average is $9.24 and its 200 day moving average is $12.58.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping 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 analysts' expectations of $937.55 million. Sell-side analysts forecast that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's payout ratio is currently -106.67%.

Crescent Energy 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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