Squarepoint Ops LLC Sells 42,882 Shares of Crescent Energy (NYSE:CRGY)

Squarepoint Ops LLC cut its position in shares of Crescent Energy (NYSE:CRGY) by 42.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,366 shares of the company’s stock after selling 42,882 shares during the period. Squarepoint Ops LLC’s holdings in Crescent Energy were worth $680,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CRGY. CWM LLC lifted its position in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy during the second quarter worth approximately $32,000. Spirit of America Management Corp NY bought a new stake in shares of Crescent Energy during the second quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in shares of Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after purchasing an additional 2,934 shares during the period. Finally, Equitec Proprietary Markets LLC purchased a new stake in shares of Crescent Energy in the second quarter valued at approximately $107,000. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Price Performance

NYSE CRGY opened at $13.15 on Wednesday. The firm’s fifty day simple moving average is $11.27 and its two-hundred day simple moving average is $11.65. The firm has a market capitalization of $2.33 billion, a P/E ratio of -65.73 and a beta of 2.19. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $13.85.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, August 5th. The company reported $0.31 earnings per share 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 for the quarter, compared to the consensus estimate of $619.00 million. Analysts forecast that Crescent Energy will post 1.5 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 3.65%. Crescent Energy’s dividend payout ratio (DPR) is currently -240.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRGY shares. Mizuho decreased their target price on Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Truist Financial lowered their price objective on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company cut their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Wolfe Research assumed coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of Crescent Energy in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $16.20.

Insider Activity at Crescent Energy

In related news, Director Michael Duginski bought 9,344 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 12,294 shares of company stock valued at $131,297 in the last three months. 13.20% of the stock is owned by insiders.

Crescent Energy Company 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.