Wolverine Asset Management LLC Invests $860,000 in Crescent Energy Company $CRGY

Key Points

• Wolverine Asset Management opened a new position of 102,502 shares in Crescent Energy in Q4 valued at about $860,000, while institutional ownership is roughly 52.11% and Vanguard increased its stake to 27.29 million shares.
• Crescent Energy beat quarterly expectations with $0.53 EPS versus $0.39 expected and revenue of $1.18 billion (up 24.5% year-over-year), but the company still reports a negative net margin and a negative PE ratio.
• The company declared a quarterly dividend of $0.12 per share (≈3.7% yield, ex-dividend May 18), and analysts have a consensus rating of "Moderate Buy" with a $15.73 price target (several firms raising targets to $18–$19).

Wolverine Asset Management LLC purchased a new position in Crescent Energy Company (NYSE:CRGY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 102,502 shares of the company's stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Crescent Energy by 34.6% in the fourth quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company's stock worth $228,981,000 after buying an additional 7,015,982 shares during the period. American Century Companies Inc. raised its holdings in shares of Crescent Energy by 8.0% in the third quarter. American Century Companies Inc. now owns 19,363,386 shares of the company's stock worth $172,721,000 after buying an additional 1,434,789 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Crescent Energy by 13.2% in the third quarter. Dimensional Fund Advisors LP now owns 10,658,863 shares of the company's stock worth $95,080,000 after buying an additional 1,243,702 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Crescent Energy by 42.0% in the first 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 period. Finally, Millennium Management LLC increased its holdings in Crescent Energy by 0.8% during the 3rd quarter. Millennium Management LLC now owns 2,162,655 shares of the company's stock worth $19,291,000 after purchasing an additional 17,993 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Stock Down 5.8%

Shares of NYSE CRGY opened at $13.11 on Thursday. The company has a current ratio of 0.57, a quick ratio of 1.48 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $4.30 billion, a PE ratio of -17.48 and a beta of 1.44. The stock's fifty day simple moving average is $12.49 and its two-hundred day simple moving average is $10.21. Crescent Energy Company has a 12-month low of $7.68 and a 12-month high of $14.29.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business's revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, analysts expect that Crescent Energy Company will post 1.58 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, May 18th. Crescent Energy's dividend payout ratio (DPR) is -64.00%.

Analysts Set New Price Targets

Several research analysts have commented on CRGY shares. BMO Capital Markets started coverage on Crescent Energy in a report on Friday, January 9th. They set a "market perform" rating and a $10.00 price objective on the stock. Wells Fargo & Company raised their price objective on Crescent Energy from $14.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Zacks Research upgraded Crescent Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. Weiss Ratings upgraded Crescent Energy from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, February 27th. Finally, KeyCorp raised their price objective on Crescent Energy from $15.00 to $19.00 and gave the stock an "overweight" rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.73.

Crescent Energy Company 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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