LSV Asset Management Decreases Stock Holdings in Crescent Energy (NYSE:CRGY)

LSV Asset Management reduced its stake in Crescent Energy (NYSE:CRGY - Free Report) by 69.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,750 shares of the company's stock after selling 54,374 shares during the period. LSV Asset Management's holdings in Crescent Energy were worth $347,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Crescent Energy by 206.7% during the fourth 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 during the last quarter. GAMMA Investing LLC boosted its position in shares of Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after purchasing an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in Crescent Energy during the 4th quarter valued at about $131,000. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 8,942 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Crescent Energy in the fourth quarter worth $174,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 3.1 %

Shares of CRGY stock traded down $0.26 on Monday, reaching $8.12. 427,384 shares of the stock were exchanged, compared to its average volume of 3,211,794. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The stock has a 50 day moving average price of $11.07 and a 200 day moving average price of $13.17. The stock has a market cap of $2.10 billion, a PE ratio of 13.12 and a beta of 1.88.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 5.91%. Crescent Energy's dividend payout ratio is presently -69.57%.

Analyst Upgrades and Downgrades

CRGY has been the topic of several research reports. Raymond James restated a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Citigroup cut shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped 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 report on Thursday, March 13th. Siebert Williams Shank began coverage on Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating on the stock. Finally, Truist Financial boosted their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski purchased 20,000 shares of the business's stock in a transaction dated 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 acquisition, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $29,221,844.93. The disclosure for this sale can be found here. In the last three months, insiders have acquired 24,932 shares of company stock valued at $263,219. 13.20% of the stock is owned by insiders.

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.