Walleye Capital LLC Increases Stake in Crescent Energy Company $CRGY

Key Points

• Walleye Capital LLC increased its stake in Crescent Energy Company by 544.7%, acquiring an additional 271,816 shares, bringing its total ownership to 321,716 shares worth approximately $3.6 million.
• Several institutional investors have also recently increased their holdings in Crescent Energy, with 52.11% of the stock owned by institutional investors overall.
• Crescent Energy announced a quarterly dividend of $0.12 per share, representing an annual yield of 5.3% and a dividend payout ratio of -266.67%.

Walleye Capital LLC raised its position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 544.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 321,716 shares of the company's stock after purchasing an additional 271,816 shares during the quarter. Walleye Capital LLC owned 0.13% of Crescent Energy worth $3,616,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in Crescent Energy by 35.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after purchasing an additional 705 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Crescent Energy by 4.3% during the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after purchasing an additional 785 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Crescent Energy by 2.1% during the first quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock valued at $751,000 after purchasing an additional 1,382 shares in the last quarter. Amalgamated Bank lifted its holdings in Crescent Energy by 3.0% during the first quarter. Amalgamated Bank now owns 51,467 shares of the company's stock valued at $578,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Crescent Energy by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 86,100 shares of the company's stock valued at $968,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CRGY. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the company a "strong-buy" rating in a report on Wednesday. Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Wells Fargo & Company lowered their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Piper Sandler boosted their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, William Blair started coverage on shares of Crescent Energy in a report on Monday, August 25th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

Crescent Energy Price Performance

Crescent Energy stock traded down $0.09 during mid-day trading on Friday, reaching $9.53. 3,720,021 shares of the company's stock traded hands, compared to its average volume of 4,521,406. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -52.92 and a beta of 1.86. The stock has a 50 day moving average of $9.11 and a two-hundred day moving average of $9.70. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released 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%. Equities analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 5.0%. Crescent Energy's dividend payout ratio is presently -266.67%.

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.