Peregrine Capital Management LLC Sells 75,669 Shares of Crescent Energy Company $CRGY

Peregrine Capital Management LLC trimmed its position in Crescent Energy Company (NYSE:CRGY) by 19.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 306,321 shares of the company’s stock after selling 75,669 shares during the quarter. Peregrine Capital Management LLC owned 0.09% of Crescent Energy worth $3,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohlberg Kravis Roberts & Co. L.P. increased its stake in Crescent Energy by 7.1% in the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 28,655,357 shares of the company’s stock worth $386,847,000 after acquiring an additional 1,897,230 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Crescent Energy by 74.1% in the 1st quarter. Jennison Associates LLC now owns 4,254,407 shares of the company’s stock valued at $57,435,000 after acquiring an additional 1,810,225 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Crescent Energy during the 4th quarter valued at about $860,000. First Trust Advisors LP boosted its position in shares of Crescent Energy by 29.0% during the 1st quarter. First Trust Advisors LP now owns 1,542,176 shares of the company’s stock valued at $20,819,000 after acquiring an additional 346,242 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Crescent Energy by 27.5% during the fourth quarter. Legal & General Group Plc now owns 585,827 shares of the company’s stock worth $4,915,000 after purchasing an additional 126,330 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CRGY shares. Stephens raised their target price on shares of Crescent Energy from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. KeyCorp reissued an “overweight” rating and issued a $19.00 price target on shares of Crescent Energy in a research note on Thursday, June 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Crescent Energy in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.33.

Crescent Energy Price Performance

Shares of Crescent Energy stock opened at $12.06 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29. The company has a fifty day moving average of $10.73 and a 200-day moving average of $11.49. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -241.15 and a beta of 1.41.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, August 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Crescent Energy had a net margin of 1.27% and a return on equity of 10.52%. The business’s revenue was up 55.3% on a year-over-year basis. Equities research analysts expect that Crescent Energy Company will post 2.07 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a $0.12 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.48 annualized dividend and a dividend yield of 4.0%. Crescent Energy’s payout ratio is currently -960.00%.

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.