AlphaQuest LLC Lowers Stock Holdings in Crescent Energy (NYSE:CRGY)

AlphaQuest LLC trimmed its holdings in shares of Crescent Energy (NYSE:CRGY) by 26.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,666 shares of the company’s stock after selling 4,565 shares during the period. AlphaQuest LLC’s holdings in Crescent Energy were worth $185,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRGY. Amalgamated Bank lifted its holdings in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Crescent Energy by 7.0% in the 3rd quarter. Victory Capital Management Inc. now owns 708,205 shares of the company’s stock worth $7,755,000 after acquiring an additional 46,448 shares during the last quarter. Royce & Associates LP purchased a new position in Crescent Energy in the 3rd quarter worth approximately $11,146,000. Quest Partners LLC purchased a new position in Crescent Energy in the 3rd quarter worth approximately $189,000. Finally, Meeder Asset Management Inc. purchased a new position in Crescent Energy in the 3rd quarter worth approximately $161,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Michael Duginski bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the acquisition, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. This represents a 8.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. 13.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRGY shares. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Mizuho boosted their price objective on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Raymond James boosted their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased 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 note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Crescent Energy currently has a consensus rating of “Moderate Buy” and an average price target of $17.45.

Crescent Energy Trading Up 3.6 %

Shares of CRGY stock opened at $10.87 on Monday. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94. The firm has a fifty day moving average price of $14.38 and a 200-day moving average price of $13.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 17.52 and a beta of 2.18.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s payout ratio is -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.