Moore Capital Management LP Has $5.23 Million Stock Holdings in Crescent Energy (NYSE:CRGY)

Moore Capital Management LP reduced its holdings in shares of Crescent Energy (NYSE:CRGY - Free Report) by 45.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 357,875 shares of the company's stock after selling 298,230 shares during the quarter. Moore Capital Management LP owned approximately 0.16% of Crescent Energy worth $5,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in Crescent Energy in the fourth quarter valued at approximately $170,905,000. Vanguard Group Inc. increased its holdings in Crescent Energy by 26.4% during the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares during the last quarter. Jennison Associates LLC increased its holdings in Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after buying an additional 3,354,362 shares during the last quarter. Bank of New York Mellon Corp raised its position in Crescent Energy by 55.5% during the fourth quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after acquiring an additional 3,305,833 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC bought a new stake in Crescent Energy during the fourth quarter worth $36,593,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Duginski purchased 4,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $10.38 per share, for a total transaction of $41,520.00. Following the acquisition, the director now owns 233,607 shares of the company's stock, valued at $2,424,840.66. This trade represents a 1.74% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 24,932 shares of company stock worth $263,219. Corporate insiders own 13.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CRGY shares. Siebert Williams Shank began coverage on shares of Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Wells Fargo & Company lowered their price target on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Citigroup cut Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Mizuho reduced 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. Finally, Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.30.

Crescent Energy Stock Performance

Crescent Energy stock traded down $0.05 during midday trading on Friday, hitting $9.14. The company's stock had a trading volume of 2,210,383 shares, compared to its average volume of 3,361,236. The company has a 50-day moving average price of $9.31 and a two-hundred day moving average price of $12.62. Crescent Energy has a 1-year low of $6.83 and a 1-year high of $16.94. 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 company has a market cap 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 announced its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The firm 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 predict that Crescent Energy 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 Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.25%. Crescent Energy's dividend payout ratio is presently -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.