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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group increased its holdings in shares of Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock valued at $28,000 after purchasing an additional 2,254 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Crescent Energy by 35.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after acquiring an additional 705 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Crescent Energy in the first quarter valued at about $34,000. DRW Securities LLC acquired a new position in shares of Crescent Energy in the first quarter valued at about $115,000. Finally, KBC Group NV acquired a new position in shares of Crescent Energy in the first quarter valued at about $117,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Trading Down 1.6%

NYSE CRGY traded down $0.14 during trading hours on Monday, reaching $8.54. The company's stock had a trading volume of 1,240,293 shares, compared to its average volume of 3,684,602. The firm has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $9.26. The stock has a market cap of $2.17 billion, a P/E ratio of -47.36 and a beta of 1.98. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued 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. The business had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. Equities analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 5.6%. Crescent Energy's dividend payout ratio (DPR) is presently -266.67%.

Analyst Upgrades and Downgrades

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

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.