Lighthouse Investment Partners LLC Takes Position in Crescent Energy (NYSE:CRGY)

Lighthouse Investment Partners LLC purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 270,000 shares of the company's stock, valued at approximately $3,945,000. Lighthouse Investment Partners LLC owned 0.12% of Crescent Energy at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Crescent Energy during the 4th quarter valued at $1,811,000. SCP Investment LP bought a new stake in shares of Crescent Energy during the fourth quarter valued at about $409,000. Clearbridge Investments LLC acquired a new stake in Crescent Energy in the fourth quarter worth about $9,869,000. Thrivent Financial for Lutherans bought a new position in Crescent Energy in the 4th quarter valued at about $2,981,000. Finally, Vanguard Group Inc. increased its stake in Crescent Energy by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock valued at $303,150,000 after buying an additional 4,332,831 shares during the period. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

CRGY has been the subject of several recent analyst reports. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a report on Wednesday, March 5th. Mizuho lowered their price target on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday. Siebert Williams Shank initiated coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating on the stock. Wells Fargo & Company decreased their target price on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, KeyCorp lowered their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

Insiders Place Their Bets

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction on Monday, March 10th. The shares were 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 can be accessed through the SEC website. 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 cost of $10.38 per share, with a total value of $41,520.00. Following the transaction, the director now owns 233,607 shares of the company's stock, valued at approximately $2,424,840.66. The trade was a 1.74% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by company insiders.

Crescent Energy Trading Down 0.5%

NYSE CRGY traded down $0.05 on Friday, hitting $9.14. 2,210,383 shares of the company were exchanged, compared to its average volume of 3,379,597. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $16.94. The company's 50 day moving average price is $9.31 and its 200-day moving average price is $12.62. The firm has a market capitalization of $2.33 billion, a P/E ratio of 14.75 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.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. Analysts predict that Crescent Energy will post 0.77 earnings per share for the current fiscal 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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.25%. The ex-dividend date is Monday, May 19th. Crescent Energy's dividend payout ratio is currently -106.67%.

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.