AQR Capital Management LLC Invests $2.37 Million in Crescent Energy (NYSE:CRGY)

AQR Capital Management LLC acquired a new stake in Crescent Energy (NYSE:CRGY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,293 shares of the company’s stock, valued at approximately $2,373,000. AQR Capital Management LLC owned approximately 0.11% of Crescent Energy at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CRGY. Cubist Systematic Strategies LLC raised its holdings in shares of Crescent Energy by 294.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 685,086 shares of the company’s stock valued at $8,118,000 after purchasing an additional 511,551 shares in the last quarter. Point72 DIFC Ltd bought a new position in Crescent Energy in the second quarter worth approximately $315,000. Marshall Wace LLP raised its stake in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after buying an additional 2,098,303 shares in the last quarter. Interval Partners LP purchased a new stake in Crescent Energy during the second quarter worth $1,835,000. Finally, Sei Investments Co. boosted its position in Crescent Energy by 1,852.6% during the 2nd quarter. Sei Investments Co. now owns 848,798 shares of the company’s stock valued at $10,058,000 after acquiring an additional 805,328 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of Crescent Energy stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $10.62 per share, with a total value of $99,233.28. Following the purchase, the director now directly owns 201,081 shares in the company, valued at $2,135,480.22. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have acquired 12,294 shares of company stock valued at $131,297. Company insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRGY. JPMorgan Chase & Co. began coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Wolfe Research started 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 for the company. Mizuho reduced their target price on Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, KeyCorp began coverage on shares of Crescent Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $16.20.

Crescent Energy Trading Down 1.3 %

Shares of NYSE:CRGY opened at $13.15 on Wednesday. The company has a market capitalization of $2.33 billion, a PE ratio of -65.73 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 moving average of $11.27 and a two-hundred day moving average of $11.65. 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 (NYSE:CRGY) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The company had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. As a group, analysts forecast that Crescent Energy will post 1.5 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 3.65%. Crescent Energy’s dividend 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.