Riposte Capital LLC Increases Stake in Crescent Energy Company (NYSE:CRGY)

Key Points

• Riposte Capital LLC increased its holdings in Crescent Energy Company by 14.3%, owning 800,000 shares valued at around $8.99 million, making it the investment firm's 10th largest position.
• Several institutions have also increased their stakes in Crescent Energy, with Vanguard Group Inc. raising its holdings by 26.4% during the fourth quarter, now owning over 20 million shares.
• Crescent Energy's latest earnings report showed an EPS of $0.56, exceeding expectations, and the company declared a quarterly dividend of $0.12 per share with a yield of 5.17%.

Riposte Capital LLC boosted its position in Crescent Energy Company (NYSE:CRGY - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 800,000 shares of the company's stock after purchasing an additional 100,000 shares during the quarter. Crescent Energy comprises 1.6% of Riposte Capital LLC's holdings, making the stock its 10th biggest position. Riposte Capital LLC owned approximately 0.31% of Crescent Energy worth $8,992,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CRGY. Principal Financial Group Inc. raised its holdings in shares of Crescent Energy by 7.4% in the 1st quarter. Principal Financial Group Inc. now owns 910,171 shares of the company's stock worth $10,230,000 after purchasing an additional 62,622 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Crescent Energy by 3.0% in the 1st quarter. Amalgamated Bank now owns 51,467 shares of the company's stock worth $578,000 after purchasing an additional 1,506 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $1,811,000. SCP Investment LP bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $409,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $9,869,000. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRGY has been the topic of a number of research reports. KeyCorp dropped their target price on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company decreased their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Mizuho cut their price target on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Piper Sandler boosted their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. One equities research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.10.

Crescent Energy Trading Down 1.4%

Shares of NYSE CRGY traded down $0.14 during mid-day trading on Tuesday, hitting $9.39. The company's stock had a trading volume of 637,007 shares, compared to its average volume of 3,438,480. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -20.88 and a beta of 1.74. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. Crescent Energy Company has a one year low of $6.83 and a one year high of $16.94. The company's fifty day simple moving average is $8.97 and its 200-day simple moving average is $10.70.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. On average, sell-side analysts anticipate that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.11%. The ex-dividend date was Monday, May 19th. Crescent Energy's payout ratio is -106.67%.

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.