LMR Partners LLP Invests $1.59 Million in Crescent Energy (NYSE:CRGY)

LMR Partners LLP acquired a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 108,936 shares of the company's stock, valued at approximately $1,592,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake 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 worth $52,000 after buying an additional 2,377 shares during the last quarter. Quarry LP raised its stake in Crescent Energy by 263.4% during 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. Toth Financial Advisory Corp acquired a new position in Crescent Energy during the 4th quarter valued at $131,000. Paloma Partners Management Co acquired a new position in Crescent Energy during the 4th quarter valued at $146,000. Finally, PNC Financial Services Group Inc. raised its stake in Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after purchasing an additional 8,942 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Down 0.5%

NYSE CRGY traded down $0.05 during trading hours on Friday, reaching $9.14. 2,210,383 shares of the company's stock were exchanged, compared to its average volume of 3,361,238. The company's 50-day moving average is $9.28 and its two-hundred day moving average is $12.60. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 14.75 and a beta of 1.86.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted 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. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $950.17 million during the quarter, compared to analysts' expectations of $937.55 million. On average, analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $0.12 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.25%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Insider Activity

In other news, Director Michael Duginski bought 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the purchase, the director now owns 259,607 shares of the company's stock, valued at $2,744,045.99. This represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders have acquired 24,932 shares of company stock worth $263,219 over the last ninety days. Insiders own 13.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.