Mariner LLC Buys 21,143 Shares of Crescent Energy (NYSE:CRGY)

Mariner LLC increased its stake in shares of Crescent Energy (NYSE:CRGY) by 32.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,658 shares of the company’s stock after acquiring an additional 21,143 shares during the quarter. Mariner LLC’s holdings in Crescent Energy were worth $1,266,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its holdings in Crescent Energy by 2.4% during the fourth 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. GAMMA Investing LLC raised 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 worth $73,000 after acquiring an additional 1,621 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Crescent Energy by 10.5% in the 4th 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. Jones Financial Companies Lllp boosted its stake in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Crescent Energy by 17.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 17,003 shares of the company’s stock worth $248,000 after purchasing an additional 2,469 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

NYSE:CRGY opened at $8.73 on Friday. 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 firm’s fifty day simple moving average is $10.43 and its 200 day simple moving average is $13.01. The stock has a market cap of $2.26 billion, a P/E ratio of 14.08 and a beta of 1.88. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $16.94.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.50%. The ex-dividend date was Wednesday, March 12th. Crescent Energy’s dividend payout ratio is currently -69.57%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their target price 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. Citigroup downgraded shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating for the company. JPMorgan Chase & Co. lowered their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Raymond James reissued a “strong-buy” rating and set a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Insider Buying and Selling at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Duginski bought 4,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at $2,424,840.66. This trade represents a 1.74 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by insiders.

Crescent Energy 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.