Interval Partners LP Has $2.14 Million Stake in Crescent Energy (NYSE:CRGY)

Interval Partners LP decreased its holdings in Crescent Energy (NYSE:CRGY - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,603 shares of the company's stock after selling 74,861 shares during the quarter. Interval Partners LP owned 0.06% of Crescent Energy worth $2,142,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock valued at $303,150,000 after purchasing an additional 4,332,831 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Crescent Energy by 12.7% in the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock worth $185,561,000 after buying an additional 1,436,084 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Crescent Energy during the fourth quarter valued at about $170,905,000. Bank of New York Mellon Corp boosted its stake in Crescent Energy by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock valued at $135,316,000 after purchasing an additional 3,305,833 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of 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 acquiring an additional 3,354,362 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Williams Trading set a $16.00 price target on shares of Crescent Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating for the company. Raymond James restated a "strong-buy" rating and issued a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Finally, KeyCorp dropped their target price on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $16.30.

Crescent Energy Price Performance

Shares of Crescent Energy stock traded down $0.26 during trading on Thursday, reaching $9.21. The company's stock had a trading volume of 2,902,899 shares, compared to its average volume of 3,374,161. The stock has a 50-day moving average price of $9.33 and a two-hundred day moving average price of $12.64. The stock has a market capitalization of $2.35 billion, a P/E ratio of 14.85 and a beta of 1.86. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a one year low of $6.83 and a one year high of $16.94.

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

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.21%. The ex-dividend date is Monday, May 19th. Crescent Energy's dividend payout ratio is -106.67%.

Insider Buying and Selling at Crescent Energy

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

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.