Interval Partners LP Purchases Shares of 154,860 Crescent Energy (NYSE:CRGY)

Interval Partners LP acquired a new position in Crescent Energy (NYSE:CRGY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 154,860 shares of the company’s stock, valued at approximately $1,835,000. Interval Partners LP owned about 0.09% of Crescent Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. grew its stake in shares of Crescent Energy by 1,852.6% in the 2nd quarter. Sei Investments Co. now owns 848,798 shares of the company’s stock worth $10,058,000 after acquiring an additional 805,328 shares in the last quarter. Inspire Investing LLC purchased a new stake in Crescent Energy in the 2nd quarter valued at about $1,119,000. Seven Eight Capital LP bought a new position in shares of Crescent Energy during the 2nd quarter worth approximately $170,000. Renaissance Technologies LLC boosted its stake in shares of Crescent Energy by 225.9% in the 2nd quarter. Renaissance Technologies LLC now owns 346,800 shares of the company’s stock worth $4,110,000 after buying an additional 240,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Crescent Energy by 85.7% in the second 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 in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRGY. JPMorgan Chase & Co. initiated coverage on Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective on the stock. Truist Financial reduced their price target on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Mizuho dropped their target price on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $16.00 price target for the company. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research note on Tuesday, August 6th. Two 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’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.27.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the purchase, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have acquired 12,294 shares of company stock worth $131,297. Corporate insiders own 13.20% of the company’s stock.

Crescent Energy Stock Down 0.1 %

Shares of NYSE CRGY opened at $11.43 on Tuesday. 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 company has a market cap of $2.03 billion, a P/E ratio of -57.15 and a beta of 2.26. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The business has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $11.59.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. Research analysts anticipate that Crescent Energy will post 1.31 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 4.20%. Crescent Energy’s payout ratio is currently -240.00%.

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.