Nokomis Capital L.L.C. Sells 472,402 Shares of Crescent Energy (NYSE:CRGY)

Nokomis Capital L.L.C. lowered its position in Crescent Energy (NYSE:CRGY - Free Report) by 81.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,525 shares of the company's stock after selling 472,402 shares during the period. Nokomis Capital L.L.C.'s holdings in Crescent Energy were worth $1,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its holdings in Crescent Energy by 10.2% during the fourth quarter. Nuveen Asset Management LLC now owns 2,475,294 shares of the company's stock valued at $36,164,000 after purchasing an additional 229,928 shares during the last quarter. Millennium Management LLC grew its holdings in Crescent Energy by 63.9% during the fourth quarter. Millennium Management LLC now owns 2,230,672 shares of the company's stock valued at $32,590,000 after purchasing an additional 869,612 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Crescent Energy by 17.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,486 shares of the company's stock valued at $1,351,000 after purchasing an additional 13,971 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Crescent Energy by 8.7% during the fourth quarter. Lazard Asset Management LLC now owns 58,336 shares of the company's stock valued at $850,000 after purchasing an additional 4,650 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in Crescent Energy during the fourth quarter valued at approximately $1,592,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Analyst Ratings Changes

CRGY has been the topic of several analyst reports. 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 report on Monday, March 24th. KeyCorp lowered their price target on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. 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 report on Thursday, March 13th. Citigroup downgraded Crescent Energy to a "reduce" rating in a report on Wednesday, March 5th. Finally, Williams Trading set a $16.00 price objective on shares of Crescent Energy in a research note on Wednesday, March 5th. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.30.

Insider Buying and Selling

In related news, Director Michael Duginski acquired 4,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $10.38 per share, with a total value of $41,520.00. Following the completion of the acquisition, the director now owns 233,607 shares in the company, valued at $2,424,840.66. The trade was a 1.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of Crescent Energy 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 disclosure for this sale can be found here. Insiders bought a total of 24,932 shares of company stock valued at $263,219 over the last ninety days. 13.20% of the stock is owned by company insiders.

Crescent Energy Stock Performance

Shares of Crescent Energy stock traded down $0.05 during midday trading on Friday, hitting $9.14. The company had a trading volume of 2,210,383 shares, compared to its average volume of 3,361,238. The business's 50 day simple moving average is $9.28 and its two-hundred day simple moving average is $12.60. The stock has a market cap of $2.33 billion, a PE 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 has a 1-year low of $6.83 and a 1-year 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 EPS for the quarter, topping 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, equities analysts predict that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given 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 (DPR) is currently -106.67%.

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.