Crescent Energy (NYSE:CRGY) Holdings Raised by Seven Grand Managers LLC

Seven Grand Managers LLC increased its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company's stock after buying an additional 100,000 shares during the quarter. Crescent Energy accounts for 3.3% of Seven Grand Managers LLC's investment portfolio, making the stock its 14th largest holding. Seven Grand Managers LLC owned 0.22% of Crescent Energy worth $7,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Crescent Energy by 4.3% during the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after buying an additional 785 shares during the period. Dark Forest Capital Management LP lifted its position in Crescent Energy by 4.0% in the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock valued at $487,000 after acquiring an additional 1,282 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Crescent Energy by 10.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company's stock valued at $354,000 after buying an additional 2,306 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Crescent Energy by 206.7% during the 4th 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 period. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Crescent Energy by 17.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 17,003 shares of the company's stock valued at $248,000 after purchasing an additional 2,469 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Shares of CRGY traded down $0.27 during mid-day trading on Wednesday, hitting $8.77. 1,004,112 shares of the company's stock were exchanged, compared to its average volume of 3,342,275. 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 $9.21 and its two-hundred day moving average is $12.56. 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 firm has a market capitalization of $2.24 billion, a P/E ratio of 14.12 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $937.55 million. On average, equities analysts expect that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business 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 $0.12 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.47%. Crescent Energy's dividend payout ratio is currently -106.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRGY. 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 report on Monday, March 24th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. JPMorgan Chase & Co. decreased their price target 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. Finally, Siebert Williams Shank initiated coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating for the company. 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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 business's stock in a transaction on Thursday, March 13th. The shares were bought 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 directly owns 259,607 shares of the company's stock, valued at $2,744,045.99. This trade represents a 8.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred 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 acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by insiders.

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.