135,855 Shares in Crescent Energy (NYSE:CRGY) Bought by Graham Capital Management L.P.

Graham Capital Management L.P. purchased a new position in Crescent Energy (NYSE:CRGY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 135,855 shares of the company’s stock, valued at approximately $1,985,000. Graham Capital Management L.P. owned approximately 0.06% of Crescent Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake 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 worth $52,000 after purchasing an additional 2,377 shares in the last quarter. Quarry LP grew its stake in shares of Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock worth $64,000 after purchasing an additional 3,155 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% in the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares in the last quarter. Toth Financial Advisory Corp bought a new position in Crescent Energy during the fourth quarter valued at about $131,000. Finally, Paloma Partners Management Co bought a new position in Crescent Energy during the fourth quarter valued at about $146,000. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 2.5%

Shares of NYSE CRGY opened at $8.58 on Monday. The firm has a market capitalization of $2.19 billion, a PE ratio of 13.84 and a beta of 1.86. 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 one year low of $6.83 and a one year high of $16.94. The business has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $12.71.

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 the consensus estimate of $0.47 by $0.09. The business had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. As a group, analysts predict that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

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

Insider Activity

In related news, Director Michael Duginski acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the purchase, the director now owns 259,607 shares of the company’s stock, valued at approximately $2,744,045.99. The trade was a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 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 bought a total of 24,932 shares of company stock worth $263,219 in the last three months. 13.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup cut Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their target price on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Williams Trading set a $16.00 target price on Crescent Energy in a report on Wednesday, March 5th. KeyCorp reduced their target price on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price on Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

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.