Voloridge Investment Management LLC Buys 451,598 Shares of Crescent Energy (NYSE:CRGY)

Voloridge Investment Management LLC lifted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 38.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,641,030 shares of the company's stock after purchasing an additional 451,598 shares during the quarter. Voloridge Investment Management LLC owned 0.72% of Crescent Energy worth $23,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Crescent Energy by 26.4% in the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Crescent Energy by 12.7% during the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock valued at $185,561,000 after acquiring an additional 1,436,084 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Crescent Energy in the fourth quarter worth approximately $170,905,000. Bank of New York Mellon Corp raised its holdings in shares of Crescent Energy by 55.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock valued at $135,316,000 after purchasing an additional 3,305,833 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock valued at $69,914,000 after purchasing an additional 3,354,362 shares during the period. 52.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael Duginski bought 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have bought 24,932 shares of company stock worth $263,219. Company insiders own 13.20% of the company's stock.

Crescent Energy Stock Performance

Crescent Energy stock traded down $0.07 during trading on Tuesday, reaching $8.48. The company had a trading volume of 590,912 shares, compared to its average volume of 3,346,396. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 13.67 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. The firm's 50-day simple moving average is $9.01 and its 200 day simple moving average is $12.42. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94.

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

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's payout ratio is -106.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Mizuho decreased their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Williams Trading set a $16.00 price objective on Crescent Energy in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. dropped their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, Raymond James restated a "strong-buy" rating and set a $18.00 price target (down from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy presently has an average rating of "Moderate Buy" and an average target price of $16.30.

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.