Nokomis Capital L.L.C. Cuts Stake in Crescent Energy (NYSE:CRGY)

Nokomis Capital L.L.C. lowered its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,525 shares of the company's stock after selling 472,402 shares during the quarter. Nokomis Capital L.L.C.'s holdings in Crescent Energy were worth $1,571,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CRGY. Hsbc Holdings PLC boosted its position in Crescent Energy by 4.3% in the fourth quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock valued at $276,000 after buying an additional 785 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Crescent Energy by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 37,831 shares of the company's stock worth $553,000 after buying an additional 897 shares during the period. Dark Forest Capital Management LP raised its stake in shares of Crescent Energy by 4.0% during the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock worth $487,000 after buying an additional 1,282 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of Crescent Energy by 10.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 24,234 shares of the company's stock worth $354,000 after buying an additional 2,306 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Crescent Energy by 206.7% during the 4th 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 period. Institutional investors and hedge funds own 52.11% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Citigroup downgraded Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. Raymond James reaffirmed a "strong-buy" rating and issued a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Finally, Siebert Williams Shank assumed coverage on Crescent Energy in a research note on Monday, February 3rd. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.30.

Crescent Energy Trading Down 0.9%

Crescent Energy stock traded down $0.09 during midday trading on Monday, reaching $8.93. 912,056 shares of the stock traded hands, compared to its average volume of 3,574,302. The company has a 50-day simple moving average of $9.28 and a two-hundred day simple moving average of $12.60. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The firm has a market cap of $2.28 billion, a PE ratio of 14.40 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 (NYSE:CRGY - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The company 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%. Research analysts expect that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend is Monday, May 19th. Crescent Energy's payout ratio is presently -106.67%.

Insider Buying and Selling

In other news, Director Michael Duginski bought 20,000 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $10.57 per share, with a total value of $211,400.00. Following the completion of the acquisition, the director now owns 259,607 shares of the company's stock, valued at approximately $2,744,045.99. This trade represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction dated 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 acquired a total of 24,932 shares of company stock worth $263,219 over the last 90 days. 13.20% of the stock is owned by insiders.

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.