Yaupon Capital Management LP Takes Position in Crescent Energy (NYSE:CRGY)

Yaupon Capital Management LP acquired a new position in shares of Crescent Energy (NYSE:CRGY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 900,000 shares of the company’s stock, valued at approximately $13,149,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in shares of Crescent Energy by 206.7% in the fourth 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. GAMMA Investing LLC increased its holdings 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 purchasing an additional 1,621 shares during the period. Toth Financial Advisory Corp acquired a new position in Crescent Energy in the 4th quarter valued at approximately $131,000. PNC Financial Services Group Inc. boosted its stake in Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock worth $152,000 after buying an additional 8,942 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Crescent Energy during the 4th quarter valued at about $174,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Down 3.1 %

Shares of NYSE CRGY opened at $8.12 on Tuesday. The company’s 50 day simple moving average is $10.94 and its 200 day simple moving average is $13.14. 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 has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The firm has a market capitalization of $2.10 billion, a P/E ratio of 13.10 and a beta of 1.88.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy’s dividend payout ratio (DPR) is currently -69.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Siebert Williams Shank started coverage on Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. Truist Financial raised their price objective on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho boosted their target price on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Williams Trading set a $16.00 price target on Crescent Energy in a report on Wednesday, March 5th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.80.

Insider Transactions at Crescent Energy

In other Crescent Energy news, Director Michael Duginski bought 20,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. The trade was a 8.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm’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 transaction of $29,221,844.93. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by company insiders.

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.