Proficio Capital Partners LLC Takes Position in Crescent Energy (NYSE:CRGY)

Proficio Capital Partners LLC purchased a new stake in shares of Crescent Energy (NYSE:CRGY) during the 4th quarter, HoldingsChannel reports. The fund purchased 16,714 shares of the company’s stock, valued at approximately $244,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 3,135 shares during the period. Amalgamated Bank increased its position in shares of Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after purchasing an additional 2,272 shares during the period. GAMMA Investing LLC boosted its stake in shares of Crescent Energy by 48.3% during 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 in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy during the 4th quarter worth $131,000. Finally, Zacks Investment Management bought a new stake in shares of Crescent Energy during the 3rd quarter worth $121,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $10.54 on Wednesday. The stock has a market cap of $2.72 billion, a PE ratio of 16.99 and a beta of 2.18. The business has a fifty 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. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $16.94.

Crescent Energy Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 4.56%. Crescent Energy’s dividend payout ratio is -69.57%.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRGY shares. Mizuho raised their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Truist Financial raised their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Citigroup lowered Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. Finally, Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.