298,498 Shares in Crescent Energy Company $CRGY Bought by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 298,498 shares of Crescent Energy Company, valued at approximately $3.36 million, raising its ownership stake to about 0.12% of the company.
• Crescent Energy's latest earnings report indicated a net margin of 0.67% and a surprising earnings per share of $0.43, surpassing analyst expectations despite an overall market capitalization of $2.43 billion.
• The company recently declared a quarterly dividend of $0.12, which reflects an annual yield of 5.0%, with shareholders on record by August 18th set to receive it.

Jump Financial LLC bought a new stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 298,498 shares of the company's stock, valued at approximately $3,355,000. Jump Financial LLC owned about 0.12% of Crescent Energy at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CRGY. ArrowMark Colorado Holdings LLC bought a new stake in Crescent Energy during the fourth quarter valued at $36,593,000. Nuveen LLC bought a new stake in Crescent Energy during the first quarter valued at $21,782,000. American Century Companies Inc. increased its stake in Crescent Energy by 10.0% during the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company's stock valued at $156,996,000 after purchasing an additional 1,266,674 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in Crescent Energy during the first quarter valued at $10,087,000. Finally, Millennium Management LLC increased its stake in Crescent Energy by 63.9% during the fourth quarter. Millennium Management LLC now owns 2,230,672 shares of the company's stock valued at $32,590,000 after purchasing an additional 869,612 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

CRGY stock opened at $9.53 on Tuesday. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $2.43 billion, a P/E ratio of -52.94 and a beta of 1.86. The company has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $9.79.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The company had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. Sell-side analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, August 18th. Crescent Energy's dividend payout ratio is presently -266.67%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CRGY shares. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. William Blair began coverage on shares of Crescent Energy in a research report on Monday. They set an "outperform" rating for the company. Raymond James Financial restated a "strong-buy" rating and set a $14.00 price target (down previously from $16.00) on shares of Crescent Energy in a research report on Friday. Zacks Research lowered shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Wells Fargo & Company lowered their price target on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.70.

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.

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