Crescent Energy (NYSE:CRGY) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its position in Crescent Energy (NYSE:CRGY - Free Report) by 9,853.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,319 shares of the company's stock after acquiring an additional 37,934 shares during the period. Sterling Capital Management LLC's holdings in Crescent Energy were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its position in shares of 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 during the last quarter. GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% during the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after buying an additional 1,621 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy during the 4th quarter worth $131,000. PNC Financial Services Group Inc. raised 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 buying an additional 8,942 shares during the period. Finally, Olympiad Research LP acquired a new position in Crescent Energy in the fourth quarter valued at $174,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRGY. Stephens reaffirmed an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. KeyCorp reduced their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday. Mizuho increased their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Finally, Williams Trading set a $16.00 price target on Crescent Energy in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued 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 $16.80.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction that occurred 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 purchase, the director now directly owns 259,607 shares of the company's stock, valued at $2,744,045.99. The trade was a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 24,932 shares of company stock worth $263,219 in the last ninety days. 13.20% of the stock is owned by insiders.

Crescent Energy Stock Up 0.7 %

CRGY stock traded up $0.06 during midday trading on Wednesday, hitting $8.36. 993,234 shares of the company's stock were exchanged, compared to its average volume of 3,223,715. The firm has a 50 day moving average price of $10.82 and a 200-day moving average price of $13.11. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 13.48 and a beta of 1.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 5.74%. Crescent Energy's dividend payout ratio is presently -69.57%.

Crescent Energy Company 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.