Neo Ivy Capital Management Acquires 215,396 Shares of Crescent Energy (NYSE:CRGY)

Neo Ivy Capital Management boosted its position in Crescent Energy (NYSE:CRGY - Free Report) by 547.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,706 shares of the company's stock after purchasing an additional 215,396 shares during the period. Neo Ivy Capital Management owned approximately 0.11% of Crescent Energy worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after purchasing an additional 2,377 shares during the last quarter. Quarry LP raised its stake in shares of 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 acquiring an additional 3,155 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy during the fourth quarter valued at approximately $131,000. Paloma Partners Management Co bought a new stake in shares of Crescent Energy during the fourth quarter valued at approximately $146,000. Finally, PNC Financial Services Group Inc. raised its stake 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 valued at $152,000 after acquiring an additional 8,942 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRGY. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Stephens reaffirmed an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Mizuho decreased their price target on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. 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. According to data from MarketBeat.com, Crescent Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

Insider Transactions at Crescent Energy

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Duginski acquired 4,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $10.38 per share, with a total value of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares of the company's stock, valued at approximately $2,424,840.66. This trade represents a 1.74% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 24,932 shares of company stock worth $263,219. Company insiders own 13.20% of the company's stock.

Crescent Energy Price Performance

NYSE CRGY opened at $8.62 on Friday. The firm's fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $12.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The firm has a market capitalization of $2.20 billion, a P/E 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 EPS 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 business had revenue of $950.17 million during the quarter, compared to the consensus estimate of $937.55 million. Analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.57%. Crescent Energy's payout ratio is currently -106.67%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.