Rhumbline Advisers Grows Stock Holdings in Crescent Energy (NYSE:CRGY)

Rhumbline Advisers grew its stake in shares of Crescent Energy (NYSE:CRGY) by 3.0% during the first quarter, HoldingsChannel reports. The firm owned 500,087 shares of the company’s stock after purchasing an additional 14,612 shares during the quarter. Rhumbline Advisers’ holdings in Crescent Energy were worth $5,621,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after purchasing an additional 705 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares in the last quarter. Quarry LP boosted its stake in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after purchasing an additional 3,155 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Crescent Energy during the 4th quarter valued at about $146,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after purchasing an additional 8,942 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

CRGY has been the topic of a number of research reports. Citigroup lowered shares of Crescent Energy to a “reduce” rating in a research note on Wednesday, March 5th. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 target price (down previously from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Piper Sandler assumed coverage on shares of Crescent Energy in a research note on Monday. They set an “overweight” rating and a $14.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and an average target price of $16.09.

Crescent Energy Trading Up 0.6%

NYSE:CRGY opened at $9.52 on Friday. Crescent Energy has a one year low of $6.83 and a one year high of $16.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $11.96. The firm has a market capitalization of $2.43 billion, a P/E ratio of 15.35 and a beta of 1.75.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million for the quarter, compared to the consensus estimate of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. As a group, analysts forecast that Crescent Energy will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.12 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.48 annualized dividend and a dividend yield of 5.04%. Crescent Energy’s dividend payout ratio is presently -106.67%.

Crescent Energy Profile

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.