Crescent Energy (NYSE:CRGY) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its position in shares of Crescent Energy (NYSE:CRGY - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,014 shares of the company's stock after selling 86,247 shares during the period. Rafferty Asset Management LLC owned 0.09% of Crescent Energy worth $2,951,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in Crescent Energy by 81.6% during the fourth quarter. ProShare Advisors LLC now owns 49,224 shares of the company's stock worth $719,000 after buying an additional 22,112 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Crescent Energy by 10.2% in the fourth quarter. Nuveen Asset Management LLC now owns 2,475,294 shares of the company's stock valued at $36,164,000 after purchasing an additional 229,928 shares during the period. Millennium Management LLC increased its holdings in shares of Crescent Energy by 63.9% in the fourth quarter. Millennium Management LLC now owns 2,230,672 shares of the company's stock valued at $32,590,000 after purchasing an additional 869,612 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Crescent Energy by 17.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,486 shares of the company's stock valued at $1,351,000 after purchasing an additional 13,971 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Crescent Energy by 8.7% in the fourth quarter. Lazard Asset Management LLC now owns 58,336 shares of the company's stock valued at $850,000 after purchasing an additional 4,650 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. KeyCorp dropped their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report 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 on the stock in a report on Thursday, March 13th. Williams Trading set a $16.00 target price on Crescent Energy in a report on Wednesday, March 5th. Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Finally, Wells Fargo & Company decreased 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. One 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.30.

Crescent Energy Price Performance

CRGY traded down $0.07 during trading on Friday, reaching $8.56. 3,569,549 shares of the stock were exchanged, compared to its average volume of 3,357,179. The business's 50 day moving average price is $9.07 and its two-hundred day moving average price is $12.46. 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 company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.80 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 posted its earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $950.17 million for the quarter, compared to the consensus estimate of $937.55 million. As a group, equities research analysts anticipate that Crescent Energy will post 0.77 earnings per share for the current 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 given a $0.12 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.61%. Crescent Energy's dividend payout ratio is currently -106.67%.

Insider Activity

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Duginski purchased 4,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were purchased 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 $2,424,840.66. The trade was a 1.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 24,932 shares of company stock worth $263,219 over the last three months. 13.20% of the stock is currently owned by corporate insiders.

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.