Millennium Management LLC Has $32.59 Million Position in Crescent Energy (NYSE:CRGY)

Millennium Management LLC boosted its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 63.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,230,672 shares of the company's stock after acquiring an additional 869,612 shares during the quarter. Millennium Management LLC owned 0.98% of Crescent Energy worth $32,590,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 2,377 shares in the last quarter. Quarry LP lifted its position in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after buying an additional 3,155 shares during the period. Toth Financial Advisory Corp acquired a new stake in Crescent Energy in the 4th quarter valued at $131,000. Paloma Partners Management Co bought a new stake in Crescent Energy in the fourth quarter valued at $146,000. Finally, PNC Financial Services Group Inc. grew its position in Crescent Energy by 619.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after acquiring an additional 8,942 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Price Performance

Shares of CRGY stock traded down $0.07 during trading hours on Thursday, reaching $8.62. 2,963,096 shares of the company were exchanged, compared to its average volume of 3,346,102. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. 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 stock's fifty day moving average is $9.17 and its two-hundred day moving average is $12.53. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 13.90 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping 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 analysts' expectations of $937.55 million. Sell-side analysts forecast that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 5.57%. Crescent Energy's payout ratio is currently -106.67%.

Insider Activity

In other Crescent Energy news, Director Michael Duginski bought 20,000 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $10.57 per share, with a total value of $211,400.00. Following the acquisition, the director now 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale 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.

Analyst Ratings Changes

A number of research analysts have issued reports on CRGY shares. JPMorgan Chase & Co. cut their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Williams Trading set a $16.00 target price on shares of Crescent Energy in a research report on Wednesday, March 5th. Raymond James reissued a "strong-buy" rating and set a $18.00 price target (down from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

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.