Two Sigma Advisers LP Has $22.12 Million Stock Holdings in Crescent Energy (NYSE:CRGY)

Two Sigma Advisers LP trimmed its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent filing with the SEC. 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 reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Grand Managers LLC grew its position in Crescent Energy by 25.0% during the 4th quarter. Seven Grand Managers LLC now owns 500,000 shares of the company's stock worth $7,305,000 after purchasing an additional 100,000 shares in the last quarter. ProShare Advisors LLC grew its position in Crescent Energy by 81.6% during the 4th quarter. ProShare Advisors LLC now owns 49,224 shares of the company's stock worth $719,000 after purchasing an additional 22,112 shares in the last quarter. Nuveen Asset Management LLC grew its position in Crescent Energy by 10.2% during the 4th quarter. Nuveen Asset Management LLC now owns 2,475,294 shares of the company's stock worth $36,164,000 after purchasing an additional 229,928 shares in the last quarter. Millennium Management LLC grew its position in Crescent Energy by 63.9% during the 4th quarter. Millennium Management LLC now owns 2,230,672 shares of the company's stock worth $32,590,000 after purchasing an additional 869,612 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Crescent Energy by 17.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,486 shares of the company's stock worth $1,351,000 after purchasing an additional 13,971 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRGY shares. Citigroup cut shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. KeyCorp lowered their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Stephens restated an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Siebert Williams Shank initiated coverage on shares of Crescent Energy in a report on Monday, February 3rd. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.30.

Crescent Energy Stock Performance

Crescent Energy stock traded down $0.07 on Friday, reaching $8.56. 3,569,549 shares of the stock were exchanged, compared to its average volume of 3,354,721. The stock has a market cap of $2.18 billion, a PE ratio of 13.80 and a beta of 1.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $16.94. The firm has a fifty day moving average price of $9.07 and a two-hundred day moving average price of $12.47.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. Sell-side analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid 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 currently -106.67%.

Insider Activity at Crescent Energy

In other news, 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 shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Duginski acquired 20,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the acquisition, the director now owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This represents a 8.35% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,932 shares of company stock valued at $263,219 over the last quarter. 13.20% of the stock is owned by company 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.