Woodline Partners LP Grows Stake in Crescent Energy (NYSE:CRGY)

Woodline Partners LP lifted its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,767,362 shares of the company's stock after acquiring an additional 856,963 shares during the quarter. Woodline Partners LP owned approximately 2.09% of Crescent Energy worth $69,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in Crescent Energy in the fourth quarter worth $170,905,000. Vanguard Group Inc. grew its stake in Crescent Energy by 26.4% in the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after purchasing an additional 4,332,831 shares during the period. Jennison Associates LLC grew its stake in Crescent Energy by 234.4% in the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after purchasing an additional 3,354,362 shares during the period. Bank of New York Mellon Corp grew its stake in Crescent Energy by 55.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after purchasing an additional 3,305,833 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in Crescent Energy in the fourth quarter worth $36,593,000. Institutional investors own 52.11% of the company's stock.

Insider Activity at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Duginski bought 4,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the acquisition, the director now owns 233,607 shares of the company's stock, valued at $2,424,840.66. This trade represents a 1.74% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 24,932 shares of company stock valued at $263,219 over the last ninety days. Insiders own 13.20% of the company's stock.

Crescent Energy Stock Performance

Shares of Crescent Energy stock traded down $0.07 during trading on Friday, hitting $8.56. 3,569,549 shares of the company's stock traded hands, compared to its average volume of 3,357,179. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 1 year low of $6.83 and a 1 year high of $16.94. The stock has a market capitalization of $2.18 billion, a P/E ratio of 13.80 and a beta of 1.86. The business has a 50-day simple moving average of $9.07 and a 200-day simple moving average of $12.47.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. As a group, analysts forecast that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.61%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Analyst Ratings Changes

A number of research firms have recently commented on CRGY. Citigroup cut Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Siebert Williams Shank began coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating on the stock. Mizuho cut their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company cut their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

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.