Two Sigma Investments LP Sells 724,656 Shares of Crescent Energy (NYSE:CRGY)

Two Sigma Investments LP lessened its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 32.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,501,857 shares of the company's stock after selling 724,656 shares during the period. Two Sigma Investments LP owned 0.66% of Crescent Energy worth $21,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRGY. Pacer Advisors Inc. purchased a new stake in shares of Crescent Energy in the fourth quarter worth $170,905,000. Vanguard Group Inc. raised its position in shares of Crescent Energy by 26.4% in the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares in the last quarter. Jennison Associates LLC raised its position in shares of Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after buying an additional 3,354,362 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after buying an additional 3,305,833 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of Crescent Energy in the fourth quarter worth $36,593,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Price Performance

NYSE CRGY traded down $0.06 during trading hours on Tuesday, reaching $8.49. 486,220 shares of the stock traded hands, compared to its average volume of 3,346,078. The stock has a 50 day simple moving average of $9.01 and a two-hundred day simple moving average of $12.42. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 13.64 and a beta of 1.86. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93.

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 (EPS) for the quarter, beating 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 firm had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. On average, analysts predict 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 dividend on an annualized basis and a dividend yield of 5.66%. Crescent Energy's dividend payout ratio (DPR) is currently -106.67%.

Wall Street Analysts Forecast Growth

CRGY has been the topic of a number of recent analyst reports. Mizuho lowered their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $16.00 price target on Crescent Energy in a research report on Wednesday, March 5th. Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating on the stock. Finally, Wells Fargo & Company lowered their price target on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.30.

Insider Activity

In other Crescent Energy news, Director Michael Duginski bought 4,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost 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. This trade represents a 1.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by 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.