On August 9, 2024, Michael Duginski, a Director at Crescent Energy Co (CRGY, Financial), purchased 18,263 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 210,000 shares of Crescent Energy Co.
Crescent Energy Co, a diversified energy company, engages in the exploration and production of oil and natural gas. The company operates primarily in the United States, focusing on sustainable and efficient energy production.
The shares were acquired at a price of $10.56 per share, valuing the transaction at approximately $192,679.68. This purchase reflects a positive sentiment from the insider, as it follows a pattern of buying activity over the past year. Over the last 12 months, Michael Duginski has purchased a total of 18,263 shares and has not sold any shares.
The insider transaction history for Crescent Energy Co shows a trend of more insider buying than selling over the past year, with 15 insider buys and 6 insider sells.
As of the date of the purchase, Crescent Energy Co had a market cap of approximately $1.774 billion. The stock's price-earnings ratio stood at 49.32, significantly higher than the industry median of 10.86. This high ratio indicates a premium valuation compared to the industry.
The stock's valuation can also be assessed through the GF Value, which is set at $9.71 per share, suggesting that Crescent Energy Co is modestly overvalued with a price-to-GF-Value ratio of 1.09.
This insider purchase could be a signal to investors about the potential undervaluation or future prospects of Crescent Energy Co, considering the insider's increasing stake in the company.
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.
