Deutsche Bank AG Sells 164,067 Shares of Crescent Energy Company (NYSE:CRGY)

Key Points

• Deutsche Bank AG lowered its position in Crescent Energy Company by 13.6%, now owning approximately 1,041,361 shares worth $11.7 million after selling 164,067 shares during the first quarter.
• Analysts have mixed reviews on Crescent Energy, with price targets ranging from $12.00 to $20.00 and a consensus rating of "Moderate Buy" reflecting a range of buy and hold ratings.
• Crescent Energy recently announced a quarterly dividend of $0.12 per share, with a current annualized dividend yield of 5.0%, despite a negative payout ratio.

Deutsche Bank AG lowered its position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,041,361 shares of the company's stock after selling 164,067 shares during the quarter. Deutsche Bank AG owned about 0.40% of Crescent Energy worth $11,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRGY. ArrowMark Colorado Holdings LLC bought a new position in shares of Crescent Energy during the 4th quarter worth about $36,593,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Crescent Energy by 6,700.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,700,000 shares of the company's stock worth $24,837,000 after purchasing an additional 1,675,000 shares in the last quarter. Covalis Capital LLP bought a new position in shares of Crescent Energy during the 4th quarter worth about $23,376,000. Yaupon Capital Management LP bought a new position in shares of Crescent Energy during the 4th quarter worth about $13,149,000. Finally, Millennium Management LLC boosted its position in shares of 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. Institutional investors own 52.11% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRGY shares. Mizuho cut 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. Wells Fargo & Company cut their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Piper Sandler upped their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, KeyCorp lowered their target price 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.10.

Crescent Energy Trading Up 0.9%

NYSE:CRGY opened at $9.65 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -53.58 and a beta of 1.86. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The firm has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $10.14.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. The firm had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. On average, equities analysts expect that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

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

Crescent Energy Company 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.

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