Crescent Energy (NYSE:CRGY) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Crescent Energy (NYSE:CRGY) by 85.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,151 shares of the company’s stock after buying an additional 12,054 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crescent Energy were worth $345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Crescent Energy in the 4th quarter valued at approximately $139,000. SG Americas Securities LLC purchased a new position in Crescent Energy during the 3rd quarter worth $140,000. Gallacher Capital Management LLC acquired a new stake in shares of Crescent Energy in the 3rd quarter worth $155,000. Arizona State Retirement System boosted its holdings in shares of Crescent Energy by 41.8% in the third quarter. Arizona State Retirement System now owns 17,302 shares of the company’s stock valued at $219,000 after acquiring an additional 5,097 shares in the last quarter. Finally, PEAK6 Investments LLC acquired a new position in shares of Crescent Energy during the third quarter worth about $228,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Insider Activity at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.20% of the company’s stock.

Crescent Energy Trading Up 0.7 %

Shares of CRGY opened at $10.57 on Friday. Crescent Energy has a 1-year low of $9.17 and a 1-year high of $14.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $11.23 and a 200-day simple moving average of $11.50. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 8.19 and a beta of 2.29.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The business had revenue of $657.73 million for the quarter, compared to the consensus estimate of $584.12 million. Equities analysts forecast that Crescent Energy will post 1.28 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy’s dividend payout ratio is presently 37.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Mizuho restated a “neutral” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Crescent Energy in a research report on Friday, March 22nd. Truist Financial dropped their price objective on Crescent Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, March 5th. Wells Fargo & Company raised their price objective on shares of Crescent Energy from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Raymond James lowered their target price on shares of Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Crescent Energy presently has an average rating of “Buy” and an average target price of $16.38.

Crescent Energy Company Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.