XTX Topco Ltd Sells 15,331 Shares of Crescent Energy (NYSE:CRGY)

XTX Topco Ltd trimmed its holdings in Crescent Energy (NYSE:CRGY) by 59.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,449 shares of the company’s stock after selling 15,331 shares during the period. XTX Topco Ltd’s holdings in Crescent Energy were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CRGY. CWM LLC raised its holdings in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Crescent Energy in the second quarter valued at about $32,000. Spirit of America Management Corp NY bought a new stake in shares of Crescent Energy in the second quarter valued at about $36,000. GAMMA Investing LLC boosted its position in shares of Crescent Energy by 186.5% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after buying an additional 2,934 shares during the period. Finally, Equitec Proprietary Markets LLC bought a new position in shares of Crescent Energy during the second quarter worth about $107,000. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRGY. Wells Fargo & Company reduced their price target on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday. Mizuho reduced their target price on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, September 16th. 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 on the stock. Wolfe Research assumed coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Two 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.20.

Crescent Energy Stock Up 2.0 %

Shares of CRGY stock opened at $11.17 on Wednesday. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -55.85 and a beta of 2.26. The firm’s 50-day moving average is $11.19 and its 200-day moving average is $11.60.

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

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s dividend payout ratio is -240.00%.

Insiders Place Their Bets

In related news, Director Michael Duginski acquired 9,344 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the completion of the transaction, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased a total of 12,294 shares of company stock valued at $131,297 over the last ninety days. 13.20% of the stock is currently owned by company insiders.

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.