Riposte Capital LLC Trims Stock Position in Crescent Energy (NYSE:CRGY)

Riposte Capital LLC lowered its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 58.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,000 shares of the company's stock after selling 965,000 shares during the period. Crescent Energy comprises 2.0% of Riposte Capital LLC's investment portfolio, making the stock its 15th biggest position. Riposte Capital LLC owned about 0.31% of Crescent Energy worth $10,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CRGY. Prudential Financial Inc. grew its stake in Crescent Energy by 37.9% during the 4th quarter. Prudential Financial Inc. now owns 176,026 shares of the company's stock valued at $2,572,000 after acquiring an additional 48,395 shares in the last quarter. Corebridge Financial Inc. increased its holdings in shares of Crescent Energy by 13.4% during the 4th quarter. Corebridge Financial Inc. now owns 86,962 shares of the company's stock worth $1,271,000 after buying an additional 10,246 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 buying an additional 4,332,831 shares during the period. LPL Financial LLC lifted its holdings in Crescent Energy by 359.1% in the fourth quarter. LPL Financial LLC now owns 90,218 shares of the company's stock valued at $1,318,000 after acquiring an additional 70,568 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Crescent Energy in the fourth quarter valued at approximately $518,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Stock Down 1.3 %

Shares of Crescent Energy stock traded down $0.15 during trading hours on Friday, reaching $11.13. 1,979,455 shares of the company were exchanged, compared to its average volume of 3,046,059. The firm has a market cap of $2.88 billion, a PE ratio of 17.94 and a beta of 2.18. The stock's fifty day moving average is $13.43 and its 200 day moving average is $13.47. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $16.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Wednesday, March 12th. Crescent Energy's payout ratio is presently -69.57%.

Insider Transactions at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Duginski purchased 20,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were acquired 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 directly owns 259,607 shares in the company, valued at $2,744,045.99. The trade was a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 24,932 shares of company stock valued at $263,219. 13.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CRGY shares. Mizuho lifted their target price on Crescent Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Williams Trading set a $16.00 price objective on shares of Crescent Energy in a report on Wednesday, March 5th. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price target on shares of Crescent Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.09.

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.