Swiss National Bank Raises Holdings in Crescent Energy (NYSE:CRGY)

Swiss National Bank increased its position in Crescent Energy (NYSE:CRGY) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 345,067 shares of the company’s stock after purchasing an additional 60,700 shares during the period. Swiss National Bank’s holdings in Crescent Energy were worth $5,041,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Crescent Energy by 206.7% in 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 increased its holdings in shares of Crescent Energy by 48.3% in the 4th 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 period. Toth Financial Advisory Corp purchased a new stake in Crescent Energy in the 4th quarter valued at $131,000. PNC Financial Services Group Inc. boosted its stake in Crescent Energy by 619.7% during 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 during the period. Finally, Zacks Investment Management purchased a new position in Crescent Energy during the 3rd quarter worth $121,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRGY. Citigroup cut shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Mizuho increased their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Wells Fargo & Company lowered their target price on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday. Williams Trading set a $16.00 price target on Crescent Energy in a research note on Wednesday, March 5th. Finally, Siebert Williams Shank started coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of “Moderate Buy” and an average price target of $17.55.

Crescent Energy Stock Performance

NYSE:CRGY opened at $11.67 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.94. The firm’s fifty day simple moving average is $13.86 and its 200-day simple moving average is $13.48. The stock has a market cap of $3.02 billion, a PE ratio of 18.81 and a beta of 2.18.

Crescent Energy Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.11%. Crescent Energy’s payout ratio is -69.57%.

Insider Transactions at Crescent Energy

In related news, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Duginski bought 4,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, with a total value of $41,520.00. Following the completion of the acquisition, the director now directly owns 233,607 shares in the company, valued at $2,424,840.66. This represents a 1.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 24,932 shares of company stock valued at $263,219 in the last quarter. 13.20% of the stock is currently owned by corporate insiders.

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.