Graham Capital Management L.P. Takes $1.99 Million Position in Crescent Energy (NYSE:CRGY)

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

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted 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 valued at $303,150,000 after purchasing an additional 4,332,831 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 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 buying an additional 1,436,084 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Crescent Energy during the fourth quarter valued at approximately $170,905,000. Bank of New York Mellon Corp boosted its position in shares of Crescent Energy by 55.5% during 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 buying an additional 3,305,833 shares during the period. Finally, Jennison Associates LLC grew its holdings in Crescent Energy by 234.4% in the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after buying an additional 3,354,362 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a report on Wednesday, March 5th. KeyCorp reduced their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Siebert Williams Shank started coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Mizuho dropped their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Stephens reaffirmed an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $16.30.

Insider Activity at Crescent Energy

In related news, Director Michael Duginski acquired 20,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This trade represents a 8.35% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company'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 transaction of $29,221,844.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 24,932 shares of company stock valued at $263,219. Company insiders own 13.20% of the company's stock.

Crescent Energy Trading Down 2.7%

Shares of Crescent Energy stock traded down $0.26 on Thursday, reaching $9.21. 2,902,899 shares of the company were exchanged, compared to its average volume of 3,374,161. 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 $2.35 billion, a price-to-earnings ratio of 14.85 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. The stock has a fifty day moving average price of $9.33 and a 200-day moving average price of $12.64.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The firm had revenue of $950.17 million for the quarter, compared to the consensus estimate of $937.55 million. On average, analysts expect that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The firm 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 of this dividend is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.21%. Crescent Energy's dividend payout ratio is -106.67%.

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.