Nebula Research & Development LLC Sells 81,195 Shares of Crescent Energy (NYSE:CRGY)

Nebula Research & Development LLC reduced its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 45.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,022 shares of the company's stock after selling 81,195 shares during the period. Nebula Research & Development LLC's holdings in Crescent Energy were worth $1,447,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CRGY. 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 purchasing an additional 2,377 shares during the last quarter. GAMMA Investing LLC boosted its stake in Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after acquiring an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in Crescent Energy during the 4th quarter worth $131,000. PNC Financial Services Group Inc. lifted its stake 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 valued at $152,000 after purchasing an additional 8,942 shares during the period. Finally, Syon Capital LLC bought a new position in shares of Crescent Energy in the 4th quarter worth $172,000. 52.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CRGY. Stephens restated an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Mizuho boosted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Siebert Williams Shank began coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating for the company. Finally, Williams Trading set a $16.00 target price on Crescent Energy in a report on Wednesday, March 5th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Insider Activity

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company'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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Duginski purchased 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the acquisition, the director now owns 259,607 shares in the company, valued at $2,744,045.99. The trade was a 8.35 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 24,932 shares of company stock valued at $263,219. 13.20% of the stock is owned by company insiders.

Crescent Energy Stock Up 2.1 %

NYSE CRGY traded up $0.18 during trading hours on Thursday, hitting $8.46. 1,386,552 shares of the company traded hands, compared to its average volume of 3,263,039. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.62 and a beta of 1.88. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $16.94. The business's 50-day moving average is $10.05 and its 200-day moving average is $12.91. 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 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 given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's dividend payout ratio (DPR) is presently -69.57%.

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.