Voleon Capital Management LP Sells 46,674 Shares of Crescent Energy Company $CRGY

Key Points

• Voleon Capital Management LP reduced its stake in **Crescent Energy Company** by 38.6%, selling 46,674 shares and now holding 74,161 shares valued at approximately $834,000.
• Multiple institutional investors have adjusted their positions, with American Century Companies Inc. increasing its holdings by 10.0% to 13,967,599 shares valued at $156.99 million.
• Crescent Energy shares recently had a dividend yield of 5.8%, with a quarterly dividend of $0.12 per share announced and paid to shareholders on August 18th.

Voleon Capital Management LP lessened its stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,161 shares of the company's stock after selling 46,674 shares during the quarter. Voleon Capital Management LP's holdings in Crescent Energy were worth $834,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company's stock worth $44,616,000 after purchasing an additional 1,174,576 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Crescent Energy in the first quarter worth about $1,047,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Crescent Energy by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company's stock worth $1,109,000 after acquiring an additional 6,184 shares in the last quarter. Interval Partners LP raised its holdings in Crescent Energy by 11.9% during the 1st quarter. Interval Partners LP now owns 164,015 shares of the company's stock worth $1,844,000 after buying an additional 17,412 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Crescent Energy by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company's stock worth $192,000 after buying an additional 1,397 shares during the period. Hedge funds and other institutional investors own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

CRGY has been the topic of a number of research reports. William Blair began coverage on Crescent Energy in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Raymond James Financial set a $17.00 target price on Crescent Energy and gave the stock a "strong-buy" rating in a research report on Wednesday, August 27th. Wall Street Zen upgraded Crescent Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Piper Sandler lifted their price target on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Zacks Research cut Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.00.

Crescent Energy Trading Down 1.5%

CRGY traded down $0.13 during trading on Friday, hitting $8.67. The company's stock had a trading volume of 3,922,444 shares, compared to its average volume of 5,370,789. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $16.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock's fifty day moving average price is $9.12 and its 200-day moving average price is $9.31. The firm has a market capitalization of $2.21 billion, a P/E ratio of -48.17 and a beta of 1.98.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data 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. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The firm had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. Analysts anticipate that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.5%. Crescent Energy's payout ratio is currently -266.67%.

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.