Segall Bryant & Hamill LLC Raises Position in Crescent Energy (NYSE:CRGY)

Segall Bryant & Hamill LLC lifted its stake in Crescent Energy (NYSE:CRGY) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 3,210,907 shares of the company’s stock after acquiring an additional 138,497 shares during the period. Crescent Energy makes up 0.6% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 27th largest holding. Segall Bryant & Hamill LLC’s holdings in Crescent Energy were worth $46,911,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew 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 valued at $553,000 after purchasing an additional 897 shares during the period. GAMMA Investing LLC lifted its position 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 valued at $73,000 after buying an additional 1,621 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 acquiring an additional 2,377 shares during the period. Heritage Wealth Management Inc. increased its holdings in Crescent Energy by 2.6% in the 4th quarter. Heritage Wealth Management Inc. now owns 111,475 shares of the company’s stock worth $1,629,000 after acquiring an additional 2,775 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Crescent Energy by 7.4% during the 4th quarter. Arizona State Retirement System now owns 45,051 shares of the company’s stock worth $658,000 after acquiring an additional 3,100 shares during the period. 52.11% of the stock is owned by institutional investors.

Crescent Energy Stock Performance

NYSE CRGY opened at $11.67 on Tuesday. The stock has a market capitalization of $3.02 billion, a PE ratio of 18.81 and a beta of 2.18. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $16.94. The business has a 50 day simple moving average of $13.86 and a two-hundred day simple moving average of $13.48. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, March 12th. Crescent Energy’s dividend payout ratio is presently -69.57%.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction dated 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 at this link. Also, Director Michael Duginski acquired 20,000 shares of the firm’s 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 completion of the transaction, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 24,932 shares of company stock worth $263,219. Insiders own 13.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRGY shares. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Williams Trading set a $16.00 target price on shares of Crescent Energy in a report on Wednesday, March 5th. Raymond James raised their price target on Crescent Energy from $22.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company lowered 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. Finally, Siebert Williams Shank assumed coverage on Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating for the company. 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 two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.55.

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.