Freestone Grove Partners LP Buys Shares of 710,417 Crescent Energy (NYSE:CRGY)

Freestone Grove Partners LP purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 710,417 shares of the company's stock, valued at approximately $10,379,000. Freestone Grove Partners LP owned 0.31% of Crescent Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRGY. Jones Financial Companies Lllp raised its holdings in shares of Crescent Energy by 206.7% in the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after buying an additional 2,377 shares during the last quarter. Quarry LP lifted its position in Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after acquiring an additional 3,155 shares during the period. GAMMA Investing LLC grew its stake in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock valued at $73,000 after purchasing an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of Crescent Energy during the fourth quarter worth approximately $131,000. Finally, Paloma Partners Management Co purchased a new position in Crescent Energy in the 4th quarter valued at $146,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Up 0.1 %

CRGY stock traded up $0.01 during trading on Wednesday, reaching $7.96. 1,516,421 shares of the stock traded hands, compared to its average volume of 3,623,828. The firm has a market capitalization of $2.06 billion, a PE ratio of 12.83 and a beta of 1.86. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The business's 50 day moving average price is $9.63 and its 200-day moving average price is $12.79. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94.

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

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's dividend payout ratio (DPR) is presently -69.57%.

Insiders Place Their Bets

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Duginski acquired 4,000 shares of Crescent Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares of the company's stock, valued at $2,424,840.66. The trade was a 1.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,932 shares of company stock worth $263,219 over the last quarter. 13.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRGY shares. Siebert Williams Shank started coverage on shares of Crescent Energy in a report on Monday, February 3rd. They issued a "buy" rating on the stock. Truist Financial lifted their price target on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Citigroup cut shares of Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Raymond James reiterated a "strong-buy" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Finally, Stephens reiterated an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Crescent Energy has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

About Crescent Energy

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.