Woodline Partners LP Acquires 856,963 Shares of Crescent Energy (NYSE:CRGY)

Woodline Partners LP raised its holdings in Crescent Energy (NYSE:CRGY) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,767,362 shares of the company’s stock after buying an additional 856,963 shares during the period. Woodline Partners LP’s holdings in Crescent Energy were worth $69,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CRGY. Jones Financial Companies Lllp boosted its stake in 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 last quarter. Quarry LP raised its position in shares of Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy in the fourth quarter valued at approximately $131,000. Paloma Partners Management Co bought a new stake in shares of Crescent Energy in the fourth quarter valued at approximately $146,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Crescent Energy by 619.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after purchasing an additional 8,942 shares during the period. 52.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CRGY. JPMorgan Chase & Co. reduced their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company lowered their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a “buy” rating for the company. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Monday, March 3rd. Finally, Citigroup lowered shares of Crescent Energy to a “reduce” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy presently has an average rating of “Moderate Buy” and an average price target of $16.30.

Crescent Energy Trading Down 1.6%

NYSE:CRGY opened at $8.98 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The firm has a market capitalization of $2.29 billion, a P/E ratio of 14.48 and a beta of 1.86. The company has a fifty day moving average of $9.24 and a 200 day moving average of $12.58.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate 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. On average, research analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.12 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.35%. Crescent Energy’s dividend payout ratio (DPR) is presently -106.67%.

Insiders Place Their Bets

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Duginski bought 4,000 shares of Crescent Energy stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the transaction, the director now directly owns 233,607 shares in the company, valued at approximately $2,424,840.66. This trade represents a 1.74% increase in their ownership of the stock. The disclosure for this purchase 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 corporate insiders.

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.