Segall Bryant & Hamill LLC Boosts Stock Position in Crescent Energy (NYSE:CRGY)

Segall Bryant & Hamill LLC increased its holdings in Crescent Energy (NYSE:CRGY) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,210,907 shares of the company’s stock after purchasing an additional 138,497 shares during the quarter. Crescent Energy makes up approximately 0.6% of Segall Bryant & Hamill LLC’s holdings, making the stock its 27th largest holding. Segall Bryant & Hamill LLC owned about 1.41% of Crescent Energy worth $46,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp increased its position in shares of Crescent Energy by 206.7% during 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 period. GAMMA Investing LLC boosted its position in 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 acquiring an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Crescent Energy during the 4th quarter worth approximately $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 acquiring an additional 8,942 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Crescent Energy in the 3rd quarter valued at approximately $121,000. Institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CRGY shares. JPMorgan Chase & Co. reduced their price target on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Truist Financial boosted their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company decreased their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Duginski bought 4,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were 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 owns 233,607 shares in the company, valued at approximately $2,424,840.66. The trade was a 1.74 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate insiders.

Crescent Energy Stock Performance

Shares of CRGY opened at $11.67 on Tuesday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 18.81 and a beta of 2.18. The business’s fifty day simple moving average is $13.86 and its two-hundred day simple moving average is $13.48. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors 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 annualized dividend and a dividend yield of 4.11%. Crescent Energy’s dividend payout ratio (DPR) is presently -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.