Natixis Advisors LLC Makes New $212,000 Investment in Crescent Energy (NYSE:CRGY)

Natixis Advisors LLC purchased a new position in Crescent Energy (NYSE:CRGY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,477 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in shares of Crescent Energy in the 4th quarter valued at $170,905,000. Jennison Associates LLC increased its holdings in shares of Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock valued at $69,914,000 after purchasing an additional 3,354,362 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock worth $135,316,000 after purchasing an additional 3,305,833 shares during the last quarter. State Street Corp lifted its holdings in shares of Crescent Energy by 78.6% during the third quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after purchasing an additional 2,986,468 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Crescent Energy during the third quarter worth about $21,872,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Down 1.3 %

Crescent Energy stock opened at $11.13 on Friday. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. The stock has a market capitalization of $2.88 billion, a PE ratio of 17.94 and a beta of 2.18. 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 business has a 50 day simple moving average of $13.43 and a 200-day simple moving average of $13.47.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy’s payout ratio is -69.57%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRGY. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Mizuho raised their target price 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. JPMorgan Chase & Co. lowered their price target on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company reduced their price objective on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Finally, Siebert Williams Shank initiated coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.09.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski purchased 20,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Insiders purchased 24,932 shares of company stock valued at $263,219 over the last 90 days. Corporate insiders own 13.20% of the company’s stock.

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.