Voloridge Investment Management LLC Has $23.98 Million Position in Crescent Energy (NYSE:CRGY)

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

Several other institutional investors also recently added to or reduced their stakes in CRGY. Barclays PLC increased its position in Crescent Energy by 579.6% in the 3rd quarter. Barclays PLC now owns 241,137 shares of the company's stock worth $2,641,000 after buying an additional 205,657 shares during the period. Toth Financial Advisory Corp bought a new position in Crescent Energy in the 4th quarter worth approximately $131,000. Pacer Advisors Inc. bought a new position in Crescent Energy in the 4th quarter worth approximately $170,905,000. DAVENPORT & Co LLC grew its holdings in shares of Crescent Energy by 9.9% during the 4th quarter. DAVENPORT & Co LLC now owns 89,000 shares of the company's stock worth $1,300,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Crescent Energy by 234.4% during the 4th quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after purchasing an additional 3,354,362 shares in the last quarter. 52.11% of the stock is owned by institutional investors.

Insider Activity

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

Crescent Energy Trading Down 0.8%

Shares of CRGY traded down $0.07 during trading hours on Friday, hitting $8.56. 3,569,549 shares of the stock traded hands, compared to its average volume of 3,357,179. 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 1-year low of $6.83 and a 1-year high of $16.94. The firm has a market capitalization of $2.18 billion, a PE ratio of 13.80 and a beta of 1.86. The business has a fifty day moving average of $9.07 and a 200-day moving average of $12.47.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $937.55 million. Analysts expect that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.61%. The ex-dividend date is Monday, May 19th. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. KeyCorp decreased 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. Citigroup cut Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of "Moderate Buy" and an average price target 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.