Creative Planning trimmed its holdings in shares of Crescent Energy (NYSE:CRGY – Free Report) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,875 shares of the company’s stock after selling 2,214 shares during the quarter. Creative Planning owned 0.07% of Crescent Energy worth $1,260,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Crescent Energy by 45.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,201,580 shares of the company’s stock valued at $43,125,000 after buying an additional 1,005,961 shares in the last quarter. BlackRock Inc. raised its position in Crescent Energy by 4.3% in the 1st quarter. BlackRock Inc. now owns 2,508,894 shares of the company’s stock worth $28,376,000 after purchasing an additional 104,377 shares during the period. State Street Corp raised its position in Crescent Energy by 13.2% in the 2nd quarter. State Street Corp now owns 1,243,525 shares of the company’s stock worth $15,519,000 after purchasing an additional 144,976 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in Crescent Energy by 14.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 953,900 shares of the company’s stock worth $10,789,000 after purchasing an additional 118,380 shares during the period. Finally, Deutsche Bank AG raised its position in Crescent Energy by 4.2% in the 4th quarter. Deutsche Bank AG now owns 839,581 shares of the company’s stock worth $10,067,000 after purchasing an additional 33,685 shares during the period. 53.31% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CRGY shares. Stephens started coverage on shares of Crescent Energy in a research report on Tuesday, September 26th. They issued an “overweight” rating and a $17.00 price objective on the stock. Mizuho increased their price objective on shares of Crescent Energy from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, September 18th. Bank of America raised their target price on shares of Crescent Energy from $12.00 to $13.00 in a research report on Wednesday, September 27th. Finally, Truist Financial raised their target price on shares of Crescent Energy from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.43.
Insider Activity
In other Crescent Energy news, insider David C. Rockecharlie acquired 2,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average cost of $12.29 per share, for a total transaction of $30,725.00. Following the completion of the purchase, the insider now owns 52,500 shares in the company, valued at $645,225. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 4,546 shares of company stock worth $56,231. Corporate insiders own 13.20% of the company’s stock.
Crescent Energy Price Performance
NYSE CRGY opened at $12.02 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day moving average price is $12.65 and its 200-day moving average price is $11.46. Crescent Energy has a 52-week low of $9.17 and a 52-week high of $15.24. The company has a market cap of $2.01 billion, a PE ratio of 2.81, a P/E/G ratio of 7.86 and a beta of 2.41.
Crescent Energy (NYSE:CRGY – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.44. Crescent Energy had a net margin of 7.30% and a return on equity of 32.29%. The firm had revenue of $492.34 million for the quarter, compared to the consensus estimate of $470.00 million. Sell-side analysts forecast that Crescent Energy will post 1.1 EPS for the current fiscal year.
Crescent Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 23rd were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.99%. Crescent Energy’s dividend payout ratio is presently 11.24%.
Crescent Energy Profile
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.
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