Bryce Point Capital LLC Has $126,000 Stock Holdings in Crescent Energy Company (NYSE:CRGY)

Key Points

• Bryce Point Capital LLC has significantly reduced its stake in Crescent Energy Company, cutting its position by 89.1% and holding only 10,290 shares after selling 84,207 shares in the 1st quarter.
• Crescent Energy reported a 1st quarter earnings per share (EPS) of $0.56, surpassing analysts' expectations of $0.47, with a revenue of $950.17 million.
• The company declared a quarterly dividend of $0.12, resulting in an annualized yield of 5.21%, despite a negative dividend payout ratio of -106.67%.

Bryce Point Capital LLC cut its position in Crescent Energy Company (NYSE:CRGY - Free Report) by 89.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,290 shares of the company's stock after selling 84,207 shares during the period. Bryce Point Capital LLC's holdings in Crescent Energy were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP acquired a new position in Crescent Energy during the first quarter worth $34,000. Public Employees Retirement System of Ohio boosted its stake in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after buying an additional 705 shares during the last quarter. Quarry LP boosted its stake 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 buying an additional 3,155 shares during the last quarter. KBC Group NV purchased a new stake in Crescent Energy in the first quarter valued at $117,000. Finally, Paloma Partners Management Co purchased a new stake in Crescent Energy in the fourth quarter valued at $146,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

Shares of NYSE CRGY traded up $0.13 during mid-day trading on Tuesday, hitting $9.66. The company had a trading volume of 3,342,319 shares, compared to its average volume of 3,457,896. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $2.46 billion, a P/E ratio of -21.46 and a beta of 1.74. The business's 50-day simple moving average is $8.97 and its 200-day simple moving average is $10.70.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. The business had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. As a group, analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 4.97%. Crescent Energy's payout ratio is currently -106.67%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CRGY shares. Wells Fargo & Company cut their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Piper Sandler boosted their price objective on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Mizuho cut their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, KeyCorp cut their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.10.

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.