Neo Ivy Capital Management Increases Position in Crescent Energy (NYSE:CRGY)

Neo Ivy Capital Management increased its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 547.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 254,706 shares of the company's stock after acquiring an additional 215,396 shares during the quarter. Neo Ivy Capital Management owned about 0.11% of Crescent Energy worth $3,721,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hsbc Holdings PLC grew its holdings in shares of Crescent Energy by 4.3% in the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after purchasing an additional 785 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Crescent Energy by 4.0% during the fourth quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock valued at $487,000 after purchasing an additional 1,282 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Crescent Energy by 10.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company's stock worth $354,000 after buying an additional 2,306 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Crescent Energy by 206.7% in the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after buying an additional 2,377 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Crescent Energy by 17.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 17,003 shares of the company's stock worth $248,000 after buying an additional 2,469 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRGY has been the topic of several recent research reports. Stephens restated an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. KeyCorp lowered their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Citigroup downgraded Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Raymond James restated a "strong-buy" rating and issued a $18.00 price target (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of "Moderate Buy" and an average target price of $16.30.

Crescent Energy Trading Up 1.1%

Shares of NYSE:CRGY traded up $0.10 on Wednesday, hitting $8.78. 946,526 shares of the company's stock were exchanged, compared to its average volume of 3,351,691. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 14.17 and a beta of 1.86. Crescent Energy has a 12 month low of $6.83 and a 12 month 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 business's 50 day simple moving average is $8.95 and its two-hundred day simple moving average is $12.40.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $950.17 million during the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. Analysts anticipate that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's dividend payout ratio is presently -106.67%.

Insider Activity at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Duginski bought 20,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the transaction, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 24,932 shares of company stock worth $263,219. Company insiders own 13.20% of the company's stock.

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.