Woodline Partners LP Buys 856,963 Shares of Crescent Energy (NYSE:CRGY)

Woodline Partners LP boosted its stake in Crescent Energy (NYSE:CRGY) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,767,362 shares of the company’s stock after purchasing an additional 856,963 shares during the period. Woodline Partners LP owned about 2.09% of Crescent Energy worth $69,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Crescent Energy by 206.7% in 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. Quarry LP lifted its stake in Crescent Energy by 263.4% in the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of Crescent Energy during the fourth quarter valued at $131,000. Paloma Partners Management Co bought a new position in shares of Crescent Energy during the fourth quarter valued at $146,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Crescent Energy by 619.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after acquiring an additional 8,942 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $9.91, for a total value of $29,221,844.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Duginski acquired 4,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the purchase, the director now directly owns 233,607 shares of the company’s stock, valued at approximately $2,424,840.66. This represents a 1.74% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRGY shares. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Monday, March 3rd. Wells Fargo & Company dropped 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 note on Monday, March 24th. Mizuho dropped their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, KeyCorp dropped their price target on shares of Crescent Energy from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.30.

Crescent Energy Trading Down 1.6%

CRGY opened at $8.98 on Tuesday. Crescent Energy has a twelve month low of $6.83 and a twelve month high of $16.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average of $9.24 and a 200-day moving average of $12.58. The stock has a market cap of $2.29 billion, a PE ratio of 14.48 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $950.17 million during the quarter, compared to analysts’ expectations of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. On average, sell-side analysts predict that Crescent Energy will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Monday, May 19th. Crescent Energy’s payout ratio is -106.67%.

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.