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

Two Sigma Investments LP decreased its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 32.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 0.66% of Crescent Energy worth $21,942,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in Crescent Energy by 4.3% in the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock worth $276,000 after purchasing an additional 785 shares during the period. Dark Forest Capital Management LP raised its stake in shares of Crescent Energy by 4.0% in the 4th 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 period. Pictet Asset Management Holding SA lifted its holdings in shares of Crescent Energy by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company's stock valued at $354,000 after purchasing an additional 2,306 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Crescent Energy by 206.7% during the fourth 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 during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Crescent Energy by 17.0% during the fourth 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 in the last quarter. Institutional investors own 52.11% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Williams Trading set a $16.00 price target on Crescent Energy in a research report on Wednesday, March 5th. Citigroup cut shares of Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Mizuho decreased their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Siebert Williams Shank assumed coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating on the stock. Finally, Raymond James reissued a "strong-buy" rating and set a $18.00 price target (down from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.30.

Crescent Energy Stock Performance

NYSE CRGY opened at $8.71 on Thursday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 14.04 and a beta of 1.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm's fifty day moving average price is $9.17 and its two-hundred day moving average price is $12.53. 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 released its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share 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 company had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. As a group, research analysts anticipate that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Monday, May 19th. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski bought 4,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the purchase, the director now owns 233,607 shares in the company, valued at $2,424,840.66. This represents a 1.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders have acquired 24,932 shares of company stock worth $263,219 over the last 90 days. 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.

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