Wolverine Asset Management LLC Buys Shares of 102,502 Crescent Energy Company $CRGY

Wolverine Asset Management LLC acquired a new position in Crescent Energy Company (NYSE:CRGY) in the fourth quarter, Holdings Channel.com reports. The fund acquired 102,502 shares of the company’s stock, valued at approximately $860,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in Crescent Energy by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after buying an additional 1,066 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Crescent Energy by 50.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after buying an additional 1,241 shares during the last quarter. AQR Capital Management LLC grew its stake in Crescent Energy by 8.9% during 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. Comerica Bank grew its stake in Crescent Energy by 2.1% during the 3rd quarter. Comerica Bank now owns 84,852 shares of the company’s stock worth $757,000 after buying an additional 1,726 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Crescent Energy by 1.1% in the 3rd quarter. Royce & Associates LP now owns 161,120 shares of the company’s stock valued at $1,437,000 after purchasing an additional 1,778 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research report on Friday, March 20th. William Blair reaffirmed an “outperform” rating on shares of Crescent Energy in a research report on Friday, March 6th. KeyCorp increased their price objective on shares of Crescent Energy from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. BMO Capital Markets assumed coverage on Crescent Energy in a research report on Friday, January 9th. They set a “market perform” rating and a $10.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a research report on Sunday, January 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.73.

Crescent Energy Stock Performance

Shares of CRGY opened at $13.11 on Thursday. The stock has a 50-day moving average of $12.49 and a two-hundred day moving average of $10.21. Crescent Energy Company has a one year low of $7.68 and a one year high of $14.29. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.48 and a current ratio of 0.57. The stock has a market cap of $4.30 billion, a P/E ratio of -17.48 and a beta of 1.44.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. As a group, research analysts predict that Crescent Energy Company will post 1.58 EPS for the current year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.7%. Crescent Energy’s payout ratio is currently -64.00%.

Crescent Energy Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.