XTX Topco Ltd Takes $661,000 Position in Crescent Energy Company (NYSE:CRGY)

Key Points

• XTX Topco Ltd has acquired 58,764 shares of Crescent Energy Company (NYSE:CRGY), worth approximately $661,000, as disclosed in a recent SEC filing.
• Several institutional investors have increased their stakes in Crescent Energy, with Public Employees Retirement System of Ohio raising its stake by 35.3% in the fourth quarter.
• Crescent Energy announced a quarterly dividend of $0.12 per share, with an annualized yield of 5.1%, set to be paid on September 2nd.

XTX Topco Ltd purchased a new stake in Crescent Energy Company (NYSE:CRGY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 58,764 shares of the company's stock, valued at approximately $661,000.

Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in 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 purchasing an additional 705 shares in the last quarter. Allworth Financial LP bought a new stake in Crescent Energy during the first quarter worth $34,000. Quarry LP increased its stake in shares of Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $64,000 after purchasing an additional 3,155 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Crescent Energy during the 4th quarter worth $146,000. Finally, KBC Group NV bought a new stake in shares of Crescent Energy during the 1st quarter worth $117,000. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 1.1%

NYSE:CRGY traded down $0.11 during mid-day trading on Wednesday, hitting $9.26. 5,797,233 shares of the company's stock were exchanged, compared to its average volume of 3,210,204. The company has a current ratio of 0.88, a quick ratio of 0.78 and a debt-to-equity ratio of 0.75. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. The company has a 50 day simple moving average of $9.03 and a 200-day simple moving average of $10.43. The firm has a market capitalization of $2.36 billion, a P/E ratio of -51.42 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. The company had revenue of $897.98 million for 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%. As a group, research analysts expect that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio (DPR) is -106.67%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CRGY shares. Mizuho lowered their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Piper Sandler increased their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, KeyCorp decreased their target price on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.10.

Crescent Energy 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.