Capital Fund Management S.A. Takes Position in Crescent Energy (NYSE:CRGY)

Capital Fund Management S.A. bought a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 175,673 shares of the company's stock, valued at approximately $2,567,000. Capital Fund Management S.A. owned approximately 0.08% of Crescent Energy as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Crescent Energy by 26.4% during the 4th quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock valued at $303,150,000 after acquiring an additional 4,332,831 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Crescent Energy by 12.7% during the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company's stock valued at $185,561,000 after purchasing an additional 1,436,084 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Crescent Energy during the fourth quarter worth about $170,905,000. Bank of New York Mellon Corp grew its position in Crescent Energy by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock worth $135,316,000 after purchasing an additional 3,305,833 shares in the last quarter. Finally, State Street Corp increased its stake in Crescent Energy by 78.6% in the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after buying an additional 2,986,468 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Performance

Shares of NYSE CRGY traded up $0.23 during midday trading on Friday, hitting $8.36. The company's stock had a trading volume of 3,660,911 shares, compared to its average volume of 3,204,189. The stock has a fifty day moving average price of $11.20 and a 200 day moving average price of $13.18. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 13.48 and a beta of 1.88. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 5.74%. Crescent Energy's dividend payout ratio is currently -69.57%.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski purchased 20,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $10.57 per share, with a total value of $211,400.00. Following the completion of the acquisition, the director now owns 259,607 shares in the company, valued at $2,744,045.99. This represents a 8.35 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders purchased 24,932 shares of company stock valued at $263,219 over the last three months. Company insiders own 13.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRGY. Mizuho upped their target price on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Williams Trading set a $16.00 price objective on Crescent Energy in a research note on Wednesday, March 5th. Siebert Williams Shank initiated coverage on Crescent Energy in a research note on Monday, February 3rd. They set a "buy" rating on the stock. Stephens restated an "overweight" rating and set a $17.00 price target on shares of Crescent Energy in a research report on Monday, March 3rd. Finally, Raymond James reiterated a "strong-buy" rating and issued a $18.00 target price (down from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Crescent Energy presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

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.