GuruFocus - On August 23, 2024, Michael Duginski, Director at Crescent Energy Co (NYSE:CRGY), purchased 10,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns 220,000 shares of Crescent Energy Co.
Crescent Energy Co (NYSE:CRGY) is an energy company engaged in the exploration, development, and production of oil and natural gas. The company operates primarily in the United States.
The shares were bought at a price of $11.09 per share, valuing the transaction at $110,900. This acquisition has increased the insider's stake in the company significantly, reflecting a strong commitment to the company's future.
Over the past year, Michael Duginski has been actively increasing his holdings in Crescent Energy Co, with a total of 28,263 shares purchased and no shares sold.
The insider transaction history for Crescent Energy Co shows a pattern of more insider buying than selling over the past year, with 17 insider buys and 6 insider sells.
On the valuation front, Crescent Energy Co's shares are trading with a market cap of $1.872 billion. The stock's price-earnings ratio is 52.05, which is significantly higher than the industry median of 10.93. This suggests a premium valuation compared to its peers.
The GF Value, an intrinsic value estimate from GuruFocus, is set at $9.81 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.13.
This insider buying activity could be a signal to investors about the potential undervaluation or future prospects of Crescent Energy Co, despite the current market valuation metrics suggesting a premium. Investors might consider watching the stock closely for any further insider buying trends or fundamental changes in the company's performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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