nVerses Capital LLC Takes Position in Crescent Energy (NYSE:CRGY)

nVerses Capital LLC acquired a new position in shares of Crescent Energy (NYSE:CRGY) in the third quarter, Holdings Channel reports. The institutional investor acquired 18,800 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Crescent Energy by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock worth $107,945,000 after buying an additional 530,199 shares during the period. GAMMA Investing LLC increased its holdings in Crescent Energy by 186.5% in the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after purchasing an additional 2,934 shares during the last quarter. Thomist Capital Management LP purchased a new stake in Crescent Energy in the first quarter valued at approximately $3,024,000. Capstone Investment Advisors LLC lifted its stake in Crescent Energy by 204.6% during the first quarter. Capstone Investment Advisors LLC now owns 228,910 shares of the company’s stock worth $2,724,000 after purchasing an additional 153,750 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Crescent Energy by 901.7% during the first quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock worth $1,198,000 after buying an additional 90,630 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski bought 9,344 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the acquisition, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased 12,294 shares of company stock worth $131,297 over the last three months. Insiders own 13.20% of the company’s stock.

Crescent Energy Price Performance

Shares of CRGY opened at $12.42 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The firm’s fifty day simple moving average is $11.60 and its 200-day simple moving average is $11.72. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -62.10 and a beta of 2.19. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $653.28 million for the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. Equities analysts forecast that Crescent Energy will post 1.28 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio (DPR) is -240.00%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective on the stock. Truist Financial reduced their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Stephens restated an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a report on Tuesday, August 6th. Mizuho reduced their target price on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, KeyCorp initiated coverage on shares of Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $16.20.

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.