First Trust Advisors LP lifted its holdings in Crescent Energy (NYSE:CRGY – Get Rating) by 71.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,031 shares of the company’s stock after acquiring an additional 85,656 shares during the period. First Trust Advisors LP’s holdings in Crescent Energy were worth $2,458,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Crescent Energy in the third quarter worth $26,000. HBK Sorce Advisory LLC purchased a new position in shares of Crescent Energy in the third quarter valued at $41,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Crescent Energy in the second quarter valued at $64,000. Sandia Investment Management LP purchased a new position in shares of Crescent Energy in the third quarter valued at $67,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Crescent Energy by 17.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,005 shares of the company’s stock valued at $72,000 after purchasing an additional 871 shares during the period. Institutional investors and hedge funds own 10.92% of the company’s stock.
Crescent Energy Trading Up 1.5 %
NYSE CRGY opened at $9.55 on Friday. Crescent Energy has a 12 month low of $9.17 and a 12 month high of $18.96. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 1.75, a price-to-earnings-growth ratio of 8.38 and a beta of 2.45. The company’s fifty day moving average price is $10.97 and its two-hundred day moving average price is $11.76.
Crescent Energy (NYSE:CRGY – Get Rating) last posted its quarterly earnings data on Tuesday, March 7th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.88. Crescent Energy had a net margin of 7.92% and a return on equity of 65.47%. The firm had revenue of $684.76 million for the quarter, compared to the consensus estimate of $543.00 million. As a group, research analysts predict that Crescent Energy will post 0.85 earnings per share for the current fiscal year.
Crescent Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 7th. Stockholders of record on Wednesday, May 24th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.03%. Crescent Energy’s payout ratio is currently 8.79%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on CRGY shares. Mizuho decreased their target price on shares of Crescent Energy from $19.00 to $18.00 in a research note on Friday, March 10th. Truist Financial upped their target price on shares of Crescent Energy from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Credit Suisse Group started coverage on shares of Crescent Energy in a research note on Tuesday, February 14th. They issued a “neutral” rating and a $14.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on shares of Crescent Energy from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.33.
About Crescent Energy
Crescent Energy Company, an energy company, explores for, 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, Mid-Con, and other basins in the United States.
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