Northern Trust Corp Purchases 530,962 Shares of Crescent Energy (NYSE:CRGY)

Northern Trust Corp boosted its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,791,477 shares of the company's stock after purchasing an additional 530,962 shares during the period. Northern Trust Corp owned about 0.78% of Crescent Energy worth $26,173,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP raised its holdings in 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. Susquehanna Fundamental Investments LLC purchased a new position in shares of Crescent Energy during the fourth quarter valued at about $3,558,000. Voya Investment Management LLC raised its stake in Crescent Energy by 67.8% in the fourth quarter. Voya Investment Management LLC now owns 115,600 shares of the company's stock worth $1,689,000 after buying an additional 46,695 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Crescent Energy by 6,700.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,700,000 shares of the company's stock worth $24,837,000 after buying an additional 1,675,000 shares during the period. Finally, Syon Capital LLC bought a new stake in Crescent Energy during the 4th quarter valued at approximately $172,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Down 2.1%

Shares of CRGY traded down $0.20 during trading hours on Friday, hitting $9.00. The company had a trading volume of 465,139 shares, compared to its average volume of 3,584,285. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 14.51 and a beta of 1.86. The firm has a fifty day moving average price of $9.31 and a 200-day moving average price of $12.62. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. 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 (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The business had revenue of $950.17 million during 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%. On average, equities research analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.34%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRGY shares. Wells Fargo & Company decreased their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Raymond James reissued a "strong-buy" rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. Finally, Mizuho decreased their price target on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.30.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy 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 transaction of $29,221,844.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Duginski purchased 4,000 shares of Crescent Energy stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, with a total value of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares of the company's stock, valued at approximately $2,424,840.66. This trade represents a 1.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company's stock.

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.