EntryPoint Capital LLC Takes Position in Crescent Energy Company $CRGY

Key Points

• EntryPoint Capital LLC has acquired a new position in Crescent Energy, purchasing 57,436 shares valued at about $646,000 during the first quarter.
• Crescent Energy reported an EPS of $0.43 for the most recent quarter, surpassing analysts' expectations of $0.23, and achieved revenues of $897.98 million.
• The company recently declared a quarterly dividend of $0.12 per share, with a 5.2% annualized dividend yield, to be paid on September 2nd.

EntryPoint Capital LLC purchased a new stake in Crescent Energy Company (NYSE:CRGY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 57,436 shares of the company's stock, valued at approximately $646,000.

Other large investors have also modified their holdings of the company. ArrowMark Colorado Holdings LLC acquired a new position in shares of Crescent Energy in the fourth quarter valued at approximately $36,593,000. Nuveen LLC purchased a new stake in Crescent Energy in the 1st quarter worth approximately $21,782,000. Adage Capital Partners GP L.L.C. raised its holdings in Crescent Energy by 6,700.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,700,000 shares of the company's stock valued at $24,837,000 after acquiring an additional 1,675,000 shares during the last quarter. American Century Companies Inc. raised its holdings in Crescent Energy by 10.0% in the 1st quarter. American Century Companies Inc. now owns 13,967,599 shares of the company's stock valued at $156,996,000 after acquiring an additional 1,266,674 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new position in shares of Crescent Energy during the 4th quarter worth $13,149,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Down 5.2%

NYSE:CRGY traded down $0.5150 during mid-day trading on Monday, hitting $9.4250. The company had a trading volume of 8,534,807 shares, compared to its average volume of 3,435,075. The business has a fifty day simple moving average of $9.13 and a 200-day simple moving average of $9.82. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -52.36 and a beta of 1.86. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $16.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75.

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

Crescent Energy Announces Dividend

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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.1%. Crescent Energy's dividend payout ratio is -266.67%.

Analyst Ratings Changes

Several research firms have commented on CRGY. Wells Fargo & Company lowered their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Zacks Research downgraded shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday. William Blair assumed coverage on shares of Crescent Energy in a research report on Monday. They set an "outperform" rating for the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $14.00 price target (down previously from $16.00) on shares of Crescent Energy in a report on Friday. Finally, Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Crescent Energy currently has an average rating of "Moderate Buy" and a consensus target price of $15.70.

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.