2,504,647 Shares in Crescent Energy (NYSE:CRGY) Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC bought a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,504,647 shares of the company's stock, valued at approximately $36,593,000. ArrowMark Colorado Holdings LLC owned 1.10% of Crescent Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of Crescent Energy by 4.3% during the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock worth $276,000 after purchasing an additional 785 shares during the period. Harbor Capital Advisors Inc. raised its position in Crescent Energy by 2.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock valued at $553,000 after purchasing an additional 897 shares during the period. Dark Forest Capital Management LP lifted its stake in Crescent Energy by 4.0% during the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock worth $487,000 after purchasing an additional 1,282 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after buying an additional 1,621 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Crescent Energy by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company's stock valued at $354,000 after purchasing an additional 2,306 shares during the period. Hedge funds and other institutional investors own 52.11% of the company's stock.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski acquired 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price 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 represents a 8.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business'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 disclosure for this sale can be found here. In the last three months, insiders purchased 24,932 shares of company stock valued at $263,219. Company insiders own 13.20% of the company's stock.

Wall Street Analysts Forecast Growth

CRGY has been the topic of several recent analyst reports. Stephens reissued an "overweight" rating and issued a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. Raymond James restated a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their target price on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company cut their price target on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Truist Financial increased their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Crescent Energy Stock Performance

Shares of NYSE:CRGY traded up $0.36 on Thursday, reaching $8.30. 2,194,313 shares of the company's stock were exchanged, compared to its average volume of 3,642,788. 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 fifty-two week low of $6.83 and a fifty-two week high of $16.94. The business's 50-day moving average is $9.54 and its two-hundred day moving average is $12.76. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.39 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) 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. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The company had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. As a group, equities research analysts forecast that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.78%. Crescent Energy's payout ratio is -69.57%.

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.