Interval Partners LP Sells 74,861 Shares of Crescent Energy (NYSE:CRGY)

Interval Partners LP lessened its stake in shares of Crescent Energy (NYSE:CRGY) by 33.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,603 shares of the company’s stock after selling 74,861 shares during the period. Interval Partners LP owned 0.06% of Crescent Energy worth $2,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRGY. Barclays PLC increased its stake in Crescent Energy by 579.6% during the 3rd quarter. Barclays PLC now owns 241,137 shares of the company’s stock worth $2,641,000 after acquiring an additional 205,657 shares during the period. GAMMA Investing LLC increased its stake in 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 acquiring an additional 1,621 shares during the period. Harbor Capital Advisors Inc. increased its stake in Crescent Energy by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company’s stock worth $553,000 after acquiring an additional 897 shares during the period. Toth Financial Advisory Corp bought a new position in shares of Crescent Energy in the 4th quarter valued at $131,000. Finally, Pacer Advisors Inc. bought a new position in shares of Crescent Energy in the 4th quarter valued at $170,905,000. Institutional investors own 52.11% of the company’s stock.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski bought 4,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at approximately $2,424,840.66. This trade represents a 1.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Insiders have purchased 24,932 shares of company stock worth $263,219 in the last 90 days. Insiders own 13.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRGY shares. Truist Financial boosted their price objective on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Siebert Williams Shank started coverage on Crescent Energy in a research report on Monday, February 3rd. They set a “buy” rating on the stock. Raymond James restated a “strong-buy” rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Citigroup lowered Crescent Energy to a “reduce” rating in a research report on Wednesday, March 5th. Finally, Williams Trading set a $16.00 price objective on Crescent Energy in a research report on Wednesday, March 5th. One 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, the company presently has an average rating of “Moderate Buy” and an average target price of $16.80.

Crescent Energy Trading Up 2.5%

NYSE CRGY opened at $8.58 on Monday. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $9.42 and a 200-day moving average of $12.71. The firm has a market cap of $2.19 billion, a PE ratio of 13.84 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $937.55 million. As a group, sell-side analysts forecast that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.59%. Crescent Energy’s payout ratio is currently -106.67%.

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.