BNP Paribas Financial Markets Buys Shares of 193,954 Crescent Energy (NYSE:CRGY)

BNP Paribas Financial Markets bought a new stake in Crescent Energy (NYSE:CRGY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 193,954 shares of the company’s stock, valued at approximately $2,834,000. BNP Paribas Financial Markets owned about 0.08% of Crescent Energy at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock worth $303,150,000 after purchasing an additional 4,332,831 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Crescent Energy by 12.7% during the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock worth $185,561,000 after buying an additional 1,436,084 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Crescent Energy during the fourth quarter worth approximately $170,905,000. Bank of New York Mellon Corp increased its stake in shares of Crescent Energy by 55.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock worth $135,316,000 after buying an additional 3,305,833 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock worth $69,914,000 after buying an additional 3,354,362 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Price Performance

Shares of CRGY stock opened at $9.21 on Friday. The stock’s fifty day simple moving average is $9.31 and its 200 day simple moving average is $12.62. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 14.85 and a beta of 1.86. Crescent Energy has a one year low of $6.83 and a one year high of $16.94.

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

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.21%. Crescent Energy’s dividend payout ratio is presently -106.67%.

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’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 value of $29,221,844.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $10.38 per share, with a total value of $41,520.00. Following the completion of the acquisition, the director now owns 233,607 shares of the company’s stock, 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. Insiders purchased 24,932 shares of company stock valued at $263,219 in the last three months. Corporate insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRGY has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Mizuho dropped their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research note on Wednesday, March 5th. Finally, Stephens restated an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crescent Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.30.

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.