GF Fund Management CO. LTD. Makes New $754,000 Investment in Crescent Energy (NYSE:CRGY)

GF Fund Management CO. LTD. purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 51,622 shares of the company's stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CRGY. Public Employees Retirement System of Ohio lifted its position in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after acquiring an additional 705 shares during the period. Jones Financial Companies Lllp raised its stake in Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after purchasing an additional 2,377 shares in the last quarter. Quarry LP lifted its position in Crescent Energy by 263.4% during 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 during the period. Toth Financial Advisory Corp acquired a new stake in Crescent Energy during the fourth quarter worth about $131,000. Finally, Paloma Partners Management Co acquired a new stake in Crescent Energy during the fourth quarter worth about $146,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski bought 4,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now owns 233,607 shares of the company's stock, valued at $2,424,840.66. This trade represents a 1.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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. In the last ninety days, insiders acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by company insiders.

Crescent Energy Price Performance

CRGY stock traded down $0.32 during midday trading on Friday, reaching $8.38. 776,254 shares of the stock were exchanged, compared to its average volume of 3,356,707. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a fifty day moving average price of $8.83 and a 200 day moving average price of $12.34. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $2.14 billion, a PE ratio of 13.49 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.56 earnings per share 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 company had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. As a group, analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's payout ratio is -106.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating for the company. Mizuho cut their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Raymond James reaffirmed a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Wells Fargo & Company lowered 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. Finally, Citigroup lowered Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

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.