GTS Securities LLC Makes New Investment in Crescent Energy (NYSE:CRGY)

GTS Securities LLC acquired a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,824 shares of the company's stock, valued at approximately $465,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. PharVision Advisers LLC bought a new stake in shares of Crescent Energy during the 4th quarter valued at $267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Crescent Energy by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 185,257 shares of the company's stock valued at $2,707,000 after acquiring an additional 12,944 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Crescent Energy by 38.0% during the 4th quarter. Voloridge Investment Management LLC now owns 1,641,030 shares of the company's stock valued at $23,975,000 after acquiring an additional 451,598 shares in the last quarter. Woodline Partners LP lifted its stake in Crescent Energy by 21.9% during the 4th quarter. Woodline Partners LP now owns 4,767,362 shares of the company's stock valued at $69,651,000 after acquiring an additional 856,963 shares in the last quarter. Finally, Seven Grand Managers LLC lifted its stake in Crescent Energy by 25.0% during the 4th quarter. Seven Grand Managers LLC now owns 500,000 shares of the company's stock valued at $7,305,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Crescent Energy stock traded down $0.31 during trading hours on Friday, hitting $8.39. 2,362,362 shares of the stock traded hands, compared to its average volume of 3,365,829. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm's 50 day moving average price is $8.77 and its 200-day moving average price is $12.28. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 13.53 and a beta of 1.86. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its earnings results 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 analysts' expectations of $937.55 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. As a group, equities analysts expect that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

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 given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.72%. Crescent Energy's dividend payout ratio is currently -106.67%.

Insider Transactions at Crescent Energy

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Duginski acquired 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. The trade was a 8.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 24,932 shares of company stock worth $263,219 over the last ninety days. Company insiders own 13.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRGY shares. Williams Trading set a $16.00 price target on Crescent Energy in a research report on Wednesday, March 5th. Wells Fargo & Company reduced their price target 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. Stephens reaffirmed an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Citigroup cut Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Mizuho reduced their price target on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.