Capital Fund Management S.A. Has $1.11 Million Stock Holdings in Crescent Energy Company $CRGY

Key Points

• Capital Fund Management S.A. reduced its holdings in Crescent Energy Company by 43.9%, selling 77,181 shares during the first quarter, resulting in a total of 98,492 shares owned worth approximately $1,107,000.
• Several institutional investors recently made significant moves with Crescent Energy, including ArrowMark Colorado Holdings acquiring a stake worth $36.6 million and American Century Companies boosting its position by 10%.
• Crescent Energy declared a quarterly dividend of $0.12, translating to a projected annual yield of 5.0%, with an ex-dividend date set for August 18th.

Capital Fund Management S.A. lessened its stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,492 shares of the company's stock after selling 77,181 shares during the quarter. Capital Fund Management S.A.'s holdings in Crescent Energy were worth $1,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRGY. ArrowMark Colorado Holdings LLC acquired a new stake in Crescent Energy in the fourth quarter valued at approximately $36,593,000. Nuveen LLC acquired a new position in shares of Crescent Energy in the 1st quarter valued at $21,782,000. American Century Companies Inc. grew its position in Crescent Energy by 10.0% in the 1st quarter. American Century Companies Inc. now owns 13,967,599 shares of the company's stock valued at $156,996,000 after buying an additional 1,266,674 shares during the last quarter. HITE Hedge Asset Management LLC purchased a new position in Crescent Energy in the 1st quarter valued at $10,087,000. Finally, Millennium Management LLC grew its position in Crescent Energy by 63.9% in the 4th quarter. Millennium Management LLC now owns 2,230,672 shares of the company's stock valued at $32,590,000 after buying an additional 869,612 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Down 0.9%

NYSE CRGY traded down $0.09 during trading on Friday, reaching $9.53. 3,720,021 shares of the company's stock were exchanged, compared to its average volume of 4,521,406. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The company's fifty day simple moving average is $9.11 and its 200-day simple moving average is $9.70. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.43 billion, a PE ratio of -52.92 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $897.98 million for the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. Sell-side analysts predict that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on CRGY. Mizuho decreased their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the company a "strong-buy" rating in a research note on Wednesday. Zacks Research cut Crescent Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. William Blair assumed coverage on Crescent Energy in a report on Monday, August 25th. They issued an "outperform" rating for the company. Finally, Piper Sandler increased their target price on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

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.