Quest Partners LLC Takes Position in Crescent Energy (NYSE:CRGY)

Quest Partners LLC bought a new stake in Crescent Energy (NYSE:CRGY) in the third quarter, Holdings Channel reports. The institutional investor bought 17,231 shares of the company’s stock, valued at approximately $189,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CRGY. CWM LLC increased its stake in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Crescent Energy during the second quarter worth about $32,000. Spirit of America Management Corp NY acquired a new position in shares of Crescent Energy during the second quarter worth about $36,000. Farther Finance Advisors LLC increased its stake in shares of Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 1.8 %

Shares of NYSE CRGY opened at $14.81 on Thursday. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $15.54. The company has a market capitalization of $3.38 billion, a PE ratio of 23.89 and a beta of 2.19. 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 firm’s 50-day moving average is $12.83 and its two-hundred day moving average is $12.12.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities analysts anticipate that Crescent Energy will post 0.97 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, November 18th. Crescent Energy’s payout ratio is 77.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CRGY shares. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Evercore ISI reiterated an “outperform” rating and set a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Raymond James upped their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Mizuho upped their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $16.30.

About Crescent Energy

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.