Crescent Energy (NYSE:CRGY) Shares Sold by Man Group plc

Man Group plc trimmed its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 97.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,624 shares of the company's stock after selling 1,187,008 shares during the period. Man Group plc's holdings in Crescent Energy were worth $389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after buying an additional 2,377 shares in the last quarter. Quarry LP lifted its position in Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $64,000 after buying an additional 3,155 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Crescent Energy during the fourth quarter worth $146,000. PNC Financial Services Group Inc. lifted its position in shares of Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock worth $152,000 after purchasing an additional 8,942 shares in the last quarter. Finally, Syon Capital LLC acquired a new position in shares of Crescent Energy during the fourth quarter worth $172,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRGY has been the topic of a number of recent research reports. Citigroup cut shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. Siebert Williams Shank initiated coverage on shares of Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating on the stock. Raymond James reissued a "strong-buy" rating and set a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. Finally, Wells Fargo & Company reduced their target price on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.30.

Crescent Energy Stock Performance

CRGY stock traded down $0.31 during trading on Friday, hitting $8.39. 2,362,362 shares of the company's stock traded hands, compared to its average volume of 3,365,829. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $12.29. 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 (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. As a group, equities analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

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

Insider Buying and Selling at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Duginski purchased 20,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $10.57 per share, with a total value of $211,400.00. Following the transaction, the director now directly owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. The trade was a 8.35% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 24,932 shares of company stock worth $263,219 over the last 90 days. Insiders own 13.20% of the company's stock.

About Crescent Energy

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.