Crescent Energy (NYSE:CRGY) Major Shareholder Energy Aggregator Independence Sells 2,948,723 Shares

Crescent Energy (NYSE:CRGY) major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’s stock in a transaction 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 this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Crescent Energy Price Performance

Crescent Energy stock opened at $10.54 on Wednesday. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The business has a 50-day simple moving average of $14.63 and a 200 day simple moving average of $13.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 16.99 and a beta of 2.18.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s dividend payout ratio is presently -69.57%.

Institutional Investors Weigh In On Crescent Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its position in Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares in the last quarter. Jones Financial Companies Lllp lifted 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 valued at $52,000 after acquiring an additional 2,377 shares in the last quarter. Amalgamated Bank lifted its position in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after acquiring an additional 2,272 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $64,000 after purchasing an additional 3,155 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CRGY shares. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Monday, March 3rd. Mizuho boosted their target price on Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Truist Financial boosted their price target on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Williams Trading set a $16.00 price target on Crescent Energy in a research report on Wednesday, March 5th. Finally, Siebert Williams Shank started coverage on Crescent Energy in a report on Monday, February 3rd. They set a “buy” rating on the stock. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.45.

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.