Nokomis Capital L.L.C. Has $1.57 Million Position in Crescent Energy (NYSE:CRGY)

Nokomis Capital L.L.C. cut its stake in Crescent Energy (NYSE:CRGY) by 81.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,525 shares of the company’s stock after selling 472,402 shares during the quarter. Nokomis Capital L.L.C.’s holdings in Crescent Energy were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CRGY. Vanguard Group Inc. increased its position in Crescent Energy by 26.4% in the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company’s stock worth $303,150,000 after purchasing an additional 4,332,831 shares during the last quarter. American Century Companies Inc. raised its position in Crescent Energy by 12.7% during the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock valued at $185,561,000 after acquiring an additional 1,436,084 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Crescent Energy in the fourth quarter valued at approximately $170,905,000. Bank of New York Mellon Corp grew its position in Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company’s stock worth $135,316,000 after acquiring an additional 3,305,833 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company’s stock worth $69,914,000 after purchasing an additional 3,354,362 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Trading Up 4.6%

Shares of CRGY stock opened at $9.52 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. The firm’s fifty day simple moving average is $9.35 and its 200 day simple moving average is $12.67. The firm has a market capitalization of $2.43 billion, a P/E ratio of 15.35 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. As a group, sell-side analysts predict that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy’s dividend payout ratio is presently -106.67%.

Insider Activity at Crescent Energy

In related news, Director Michael Duginski purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $10.57 per share, with a total value of $211,400.00. Following the purchase, the director now directly owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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 stock was 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. Over the last ninety days, insiders bought 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on CRGY. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. KeyCorp lowered their price objective on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Williams Trading set a $16.00 target price on Crescent Energy in a report on Wednesday, March 5th. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Mizuho dropped their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Crescent Energy has a consensus rating of “Moderate Buy” and an average target price of $16.30.

Crescent Energy Company 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.