Yaupon Capital Management LP Makes New $13.15 Million Investment in Crescent Energy (NYSE:CRGY)

Yaupon Capital Management LP bought a new stake in Crescent Energy (NYSE:CRGY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 900,000 shares of the company's stock, valued at approximately $13,149,000. Yaupon Capital Management LP owned approximately 0.39% of Crescent Energy at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock valued at $52,000 after purchasing an additional 2,377 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company's stock worth $73,000 after acquiring an additional 1,621 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Crescent Energy in the 4th quarter worth approximately $131,000. PNC Financial Services Group Inc. boosted its stake in shares of Crescent Energy by 619.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company's stock valued at $152,000 after purchasing an additional 8,942 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of Crescent Energy during the 4th quarter valued at $174,000. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRGY. Citigroup lowered shares of Crescent Energy to a "reduce" rating in a research report on Wednesday, March 5th. Stephens restated an "overweight" rating and set a $17.00 target price on shares of Crescent Energy in a report on Monday, March 3rd. JPMorgan Chase & Co. decreased their price target on Crescent Energy from $18.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Crescent Energy from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Finally, Truist Financial lifted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.80.

Crescent Energy Trading Up 2.7 %

Crescent Energy stock traded up $0.23 during mid-day trading on Friday, reaching $8.73. 1,665,961 shares of the company traded hands, compared to its average volume of 3,254,348. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 52-week low of $6.83 and a 52-week high of $16.94. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 14.08 and a beta of 1.88. The firm's 50 day moving average price is $10.43 and its 200 day moving average price is $13.01.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend was Wednesday, March 12th. Crescent Energy's dividend payout ratio is currently -69.57%.

Insider Buying and Selling

In other news, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the business's stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Duginski bought 20,000 shares of Crescent Energy stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $10.57 per share, for a total transaction of $211,400.00. Following the completion of the transaction, the director now directly owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 24,932 shares of company stock valued at $263,219 over the last three months. Corporate insiders own 13.20% of the company's stock.

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.