Virtu Financial LLC Purchases Shares of 81,207 Crescent Energy Company (NYSE:CRGY)

Key Points

• Virtu Financial LLC acquired 81,207 shares of Crescent Energy Company, investing approximately $913,000 during the first quarter.
• Crescent Energy reported earnings of $0.43 EPS for the last quarter, exceeding estimates, with revenue reaching $897.98 million, higher than the anticipated $868.34 million.
• The company declared a quarterly dividend of $0.12 per share, payable on September 2nd, resulting in a 5.3% dividend yield, although its payout ratio is currently negative.

Virtu Financial LLC bought a new position in Crescent Energy Company (NYSE:CRGY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 81,207 shares of the company's stock, valued at approximately $913,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after acquiring an additional 705 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Crescent Energy by 4.3% during the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock worth $276,000 after acquiring an additional 785 shares during the last quarter. Dark Forest Capital Management LP boosted its stake in shares of Crescent Energy by 4.0% during the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock worth $487,000 after acquiring an additional 1,282 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Crescent Energy by 2.1% during the 1st quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock worth $751,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Crescent Energy by 3.0% during the 1st quarter. Amalgamated Bank now owns 51,467 shares of the company's stock worth $578,000 after acquiring an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Price Performance

Shares of CRGY stock traded down $0.23 on Friday, hitting $9.42. 2,084,348 shares of the stock traded hands, compared to its average volume of 3,294,198. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -52.33 and a beta of 1.86. The firm has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $10.09. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. The company had revenue of $897.98 million for the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. As a group, equities research analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Monday, August 18th. Crescent Energy's payout ratio is currently -266.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRGY. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. KeyCorp decreased their price objective on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Mizuho decreased their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler raised their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.10.

About Crescent Energy

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.