Voleon Capital Management LP Sells 46,674 Shares of Crescent Energy Company $CRGY

Voleon Capital Management LP cut its holdings in Crescent Energy Company (NYSE:CRGY) by 38.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,161 shares of the company’s stock after selling 46,674 shares during the quarter. Voleon Capital Management LP’s holdings in Crescent Energy were worth $834,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CRGY. Goldman Sachs Group Inc. boosted its stake in Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock worth $44,616,000 after acquiring an additional 1,174,576 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Crescent Energy during the first quarter valued at approximately $1,047,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Crescent Energy by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after purchasing an additional 6,184 shares in the last quarter. Interval Partners LP boosted its position in shares of Crescent Energy by 11.9% in the 1st quarter. Interval Partners LP now owns 164,015 shares of the company’s stock worth $1,844,000 after purchasing an additional 17,412 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after buying an additional 1,397 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Trading Down 1.3%

Crescent Energy stock opened at $8.23 on Wednesday. Crescent Energy Company has a one year low of $6.83 and a one year high of $16.94. The business’s fifty day moving average is $9.15 and its 200 day moving average is $9.39. The stock has a market capitalization of $2.10 billion, a PE ratio of -45.72 and a beta of 1.98. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.88.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. The business had revenue of $897.98 million during the quarter, compared to analyst estimates of $868.34 million. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%. On average, sell-side analysts predict that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, August 18th. Crescent Energy’s payout ratio is presently -266.67%.

Analyst Upgrades and Downgrades

CRGY has been the subject of a number of recent research reports. William Blair assumed coverage on Crescent Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Piper Sandler lifted their price target on Crescent Energy from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the stock a “strong-buy” rating in a research note on Wednesday, August 27th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen raised shares of Crescent Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.