Walleye Capital LLC Buys 172,646 Shares of Crescent Energy Company $CRGY

Key Points

• Walleye Capital LLC massively increased its Crescent Energy position in the first quarter, buying 172,646 additional shares and lifting its stake by 2,153.2% to 180,664 shares worth about $2.44 million.
• Several other large institutions also added to CRGY, and institutional investors now own 52.11% of the stock, indicating significant professional ownership.
• Crescent Energy reported quarterly earnings that beat expectations, with EPS of $0.53 versus $0.39 expected and revenue of $1.18 billion, while analysts currently rate the stock Moderate Buy with an average price target of $15.58.

Walleye Capital LLC raised its stake in Crescent Energy Company (NYSE:CRGY - Free Report) by 2,153.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,664 shares of the company's stock after purchasing an additional 172,646 shares during the period. Walleye Capital LLC owned 0.05% of Crescent Energy worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CRGY. Royal Bank of Canada lifted its position in shares of Crescent Energy by 16.1% during the first quarter. Royal Bank of Canada now owns 58,900 shares of the company's stock valued at $662,000 after buying an additional 8,173 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company's stock valued at $192,000 after buying an additional 1,397 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Crescent Energy by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company's stock worth $1,109,000 after buying an additional 6,184 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Crescent Energy by 42.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company's stock worth $44,616,000 after buying an additional 1,174,576 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Crescent Energy by 32.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company's stock worth $2,748,000 after acquiring an additional 59,199 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRGY shares. Zacks Research cut shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Mizuho lifted their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Stephens reaffirmed an "overweight" rating and set a $18.00 price target on shares of Crescent Energy in a research report on Tuesday, May 5th. Wells Fargo & Company increased their price objective on Crescent Energy from $14.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. Finally, Raymond James Financial lowered their price objective on Crescent Energy from $20.00 to $18.00 and set a "strong-buy" rating for the company in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.58.

Crescent Energy Stock Performance

CRGY opened at $11.39 on Friday. The company has a market cap of $3.76 billion, a P/E ratio of -15.19 and a beta of 1.40. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm's 50-day moving average price is $11.09 and its 200-day moving average price is $11.18. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.14. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy's revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. As a group, equities analysts anticipate that Crescent Energy Company will post 1.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, May 18th. Crescent Energy's payout ratio is presently -64.00%.

Crescent Energy Profile

Crescent Energy Co NYSE: CRGY is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company's core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy's integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy's operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin's stacked pay intervals.

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