Cubist Systematic Strategies LLC Has $8.12 Million Position in Crescent Energy (NYSE:CRGY)

Cubist Systematic Strategies LLC grew its position in Crescent Energy (NYSE:CRGY) by 294.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 685,086 shares of the company’s stock after purchasing an additional 511,551 shares during the period. Cubist Systematic Strategies LLC’s holdings in Crescent Energy were worth $8,118,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CRGY. Charles Schwab Investment Management Inc. boosted its holdings in shares of Crescent Energy by 36.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 642,578 shares of the company’s stock worth $8,488,000 after acquiring an additional 171,579 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Crescent Energy during the fourth quarter worth $298,000. Capstone Investment Advisors LLC acquired a new stake in shares of Crescent Energy in the fourth quarter valued at $993,000. The Manufacturers Life Insurance Company raised its holdings in shares of Crescent Energy by 22,968.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,658,443 shares of the company’s stock valued at $48,328,000 after buying an additional 3,642,584 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Crescent Energy by 21.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock worth $22,042,000 after buying an additional 291,990 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Down 5.9 %

NYSE:CRGY opened at $10.77 on Friday. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -53.85 and a beta of 2.26. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The business’s 50-day moving average price is $11.25 and its two-hundred day moving average price is $11.59. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. The business had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. On average, equities analysts expect that Crescent Energy will post 1.5 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Monday, August 19th. Crescent Energy’s dividend payout ratio is currently -239.99%.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the completion of the acquisition, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 12,294 shares of company stock valued at $131,297. 13.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRGY has been the subject of several research reports. Evercore ISI restated an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. Truist Financial dropped their target price on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Wolfe Research initiated coverage on Crescent Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $16.36.

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.