DAVENPORT & Co LLC Purchases 22,879 Shares of Crescent Energy (NYSE:CRGY)

DAVENPORT & Co LLC boosted its position in Crescent Energy (NYSE:CRGY – Free Report) by 39.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 81,000 shares of the company’s stock after acquiring an additional 22,879 shares during the period. DAVENPORT & Co LLC’s holdings in Crescent Energy were worth $916,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CRGY. Vanguard Group Inc. increased its position in shares of Crescent Energy by 45.8% during the third quarter. Vanguard Group Inc. now owns 3,201,580 shares of the company’s stock valued at $43,125,000 after acquiring an additional 1,005,961 shares during the last quarter. BlackRock Inc. increased its position in shares of Crescent Energy by 2.4% during the third quarter. BlackRock Inc. now owns 2,019,149 shares of the company’s stock valued at $27,198,000 after acquiring an additional 47,624 shares during the last quarter. State Street Corp increased its position in Crescent Energy by 13.2% in the second quarter. State Street Corp now owns 1,243,525 shares of the company’s stock worth $15,519,000 after buying an additional 144,976 shares during the last quarter. Deutsche Bank AG increased its position in Crescent Energy by 4.2% in the fourth quarter. Deutsche Bank AG now owns 839,581 shares of the company’s stock worth $10,067,000 after buying an additional 33,685 shares during the last quarter. Finally, Aventail Capital Group LP increased its position in Crescent Energy by 22.3% in the fourth quarter. Aventail Capital Group LP now owns 793,245 shares of the company’s stock worth $9,511,000 after buying an additional 144,645 shares during the last quarter. Institutional investors own 64.74% of the company’s stock.

Get Crescent Energy alerts:

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho reduced their price target on Crescent Energy from $18.00 to $17.00 in a research report on Tuesday. Truist Financial lifted their price target on Crescent Energy from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Crescent Energy has a consensus rating of “Hold” and a consensus price target of $16.17.

Insider Transactions at Crescent Energy

In related news, insider David C. Rockecharlie acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were purchased at an average price of $10.14 per share, for a total transaction of $40,560.00. Following the completion of the acquisition, the insider now owns 45,000 shares in the company, valued at $456,300. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have purchased 6,500 shares of company stock worth $66,138. Company insiders own 27.00% of the company’s stock.

Crescent Energy Price Performance

NYSE:CRGY opened at $11.38 on Wednesday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 2.08, a P/E/G ratio of 9.11 and a beta of 2.42. Crescent Energy has a 52-week low of $9.17 and a 52-week high of $18.16. The stock has a fifty day moving average of $10.20 and a 200 day moving average of $11.12. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.69 and a current ratio of 0.69.

Crescent Energy (NYSE:CRGY – Get Free Report) last issued its quarterly earnings results on Wednesday, May 10th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.81. Crescent Energy had a return on equity of 65.47% and a net margin of 7.92%. The firm had revenue of $590.14 million during the quarter, compared to analyst estimates of $458.00 million. On average, research analysts expect that Crescent Energy will post 0.85 EPS for the current fiscal year.

Crescent Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 7th. Shareholders of record on Wednesday, May 24th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.22%. The ex-dividend date was Tuesday, May 23rd. Crescent Energy’s dividend payout ratio (DPR) is currently 8.79%.

About Crescent Energy

(Free Report)

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven basins, including the Eagle Ford, Rockies, Barnett, Permian, and Mid-Con in the United States.

Read More

• Five stocks we like better than Crescent Energy
• Green Hydrogen Stocks Getting Ready to Deliver Big Gains
• Charles Schwab Gets The Rebound, Time to Buy?
• Is Ebix Inc a Phygital E-Commerce Contender or Pretender?
• 3 Mid-Cap Stocks with Expectations for High-Earnings Growth
• Can Lockheed Martin Fly To A New High In 2023?

Receive News & Ratings for Crescent Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crescent Energy and related companies with MarketBeat.com's FREE daily email newsletter.