Crescent Energy (NYSE:CRGY) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its position in Crescent Energy (NYSE:CRGY - Free Report) by 25.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,513,983 shares of the company's stock after selling 518,000 shares during the period. Two Sigma Advisers LP owned 0.66% of Crescent Energy worth $22,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRGY. Jones Financial Companies Lllp lifted its holdings in shares of Crescent Energy by 206.7% in 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 last quarter. Quarry LP grew its stake in shares of Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $64,000 after buying an additional 3,155 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy during the 4th quarter worth approximately $131,000. Paloma Partners Management Co purchased a new position in Crescent Energy during the 4th quarter valued at $146,000. Finally, PNC Financial Services Group Inc. grew its position in Crescent Energy by 619.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after acquiring an additional 8,942 shares during the last quarter. 52.11% of the stock is owned by institutional investors.

Crescent Energy Stock Performance

CRGY traded down $0.07 during trading on Monday, reaching $8.56. 3,569,549 shares of the company's stock were exchanged, compared to its average volume of 3,357,179. The company's fifty day simple moving average is $9.07 and its 200-day simple moving average is $12.46. The stock has a market capitalization of $2.18 billion, a P/E ratio of 13.80 and a beta of 1.86. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $950.17 million during the quarter, compared to analysts' expectations of $937.55 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. As a group, research analysts predict that Crescent Energy 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 Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a yield of 5.61%. Crescent Energy's payout ratio is -106.67%.

Analysts Set New Price Targets

CRGY has been the subject of several research analyst reports. Williams Trading set a $16.00 target price on Crescent Energy in a research report on Wednesday, March 5th. Mizuho decreased their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Siebert Williams Shank began coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They issued a "buy" rating for the company. KeyCorp reduced their target price on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. One research 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $16.30.

Insiders Place Their Bets

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael Duginski acquired 20,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $10.57 per share, with a total value of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is owned by corporate 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.