Crescent Energy (NYSE:CRGY) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its position in Crescent Energy (NYSE:CRGY) by 56.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,084 shares of the company’s stock after selling 18,616 shares during the period. Point72 Asset Management L.P.’s holdings in Crescent Energy were worth $167,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CRGY. Vanguard Group Inc. grew its stake in Crescent Energy by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after purchasing an additional 1,137,367 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Crescent Energy by 444.8% in the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after buying an additional 6,348,598 shares during the last quarter. Marshall Wace LLP raised its holdings in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Crescent Energy by 85.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after acquiring an additional 1,226,027 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Crescent Energy by 21.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after acquiring an additional 291,990 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Price Performance

Shares of Crescent Energy stock opened at $12.98 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of -64.90 and a beta of 2.19. The firm’s 50-day simple moving average is $11.22 and its 200-day simple moving average is $11.62. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The firm had revenue of $653.28 million during the quarter, compared to analyst estimates of $619.00 million. As a group, research analysts expect that Crescent Energy will post 1.5 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s dividend payout ratio is presently -240.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRGY. Evercore ISI restated an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, September 24th. Wells Fargo & Company cut their price objective on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a report on Tuesday, August 6th. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Mizuho decreased their price objective on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $16.20.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski acquired 9,344 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the transaction, the director now directly owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 12,294 shares of company stock worth $131,297. Corporate insiders own 13.20% of the company’s stock.

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.