Laird Norton Wetherby Trust Company LLC Buys New Shares in Crescent Energy (NYSE:CRGY)

Laird Norton Wetherby Trust Company LLC bought a new stake in shares of Crescent Energy (NYSE:CRGY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,911 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC grew its position in shares of Crescent Energy by 4.3% in the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company’s stock worth $276,000 after buying an additional 785 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Crescent Energy by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock worth $553,000 after buying an additional 897 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in Crescent Energy by 4.0% in the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company’s stock valued at $487,000 after acquiring an additional 1,282 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Crescent Energy by 48.3% in the fourth 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. Finally, Pictet Asset Management Holding SA boosted its holdings in Crescent Energy by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company’s stock valued at $354,000 after acquiring an additional 2,306 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CRGY. Mizuho lifted their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Wells Fargo & Company cut their price objective on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Siebert Williams Shank initiated coverage on Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Insider Buying and Selling

In other news, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $10.57 per share, for a total transaction of $211,400.00. Following the purchase, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 24,932 shares of company stock worth $263,219 in the last quarter. Corporate insiders own 13.20% of the company’s stock.

Crescent Energy Stock Performance

Shares of CRGY opened at $8.58 on Monday. 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 business’s 50 day moving average price is $9.42 and its 200-day moving average price is $12.71. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a market cap of $2.19 billion, a P/E ratio of 13.84 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $950.17 million for the quarter, compared to the consensus estimate of $937.55 million. Equities research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date is Monday, May 19th. Crescent Energy’s payout ratio is -106.67%.

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.