Millennium Management LLC Has $17.20 Million Holdings in Crescent Energy (NYSE:CRGY)

Millennium Management LLC decreased its holdings in Crescent Energy (NYSE:CRGY) by 59.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,451,739 shares of the company’s stock after selling 2,091,563 shares during the quarter. Millennium Management LLC owned 0.82% of Crescent Energy worth $17,203,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC lifted its position in shares of Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Crescent Energy during the second quarter worth about $32,000. Spirit of America Management Corp NY bought a new position in Crescent Energy in the 2nd quarter valued at about $36,000. GAMMA Investing LLC raised its position in shares of Crescent Energy by 186.5% in the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after buying an additional 2,934 shares in the last quarter. Finally, Equitec Proprietary Markets LLC bought a new stake in shares of Crescent Energy during the 2nd quarter worth approximately $107,000. Institutional investors own 52.11% of the company’s stock.

Insider Transactions at Crescent Energy

In related news, Director Michael Duginski acquired 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, 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 filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have acquired 12,294 shares of company stock worth $131,297. Company insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRGY has been the topic of a number of recent analyst reports. Truist Financial decreased their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wolfe Research started coverage on Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target on the stock. Evercore ISI reissued an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. KeyCorp began coverage on Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy has a consensus rating of “Buy” and a consensus target price of $16.20.

Crescent Energy Price Performance

Shares of CRGY opened at $12.98 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a market cap of $2.30 billion, a PE ratio of -64.90 and a beta of 2.19. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $13.85. The business has a 50-day simple moving average of $11.22 and a two-hundred day simple moving average of $11.62.

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, beating 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 company had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. Analysts anticipate that Crescent Energy will post 1.5 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s payout ratio is currently -240.00%.

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.