Sunbelt Securities Inc. Sells 124,818 Shares of Crescent Energy (NYSE:CRGY)

Sunbelt Securities Inc. decreased its position in shares of Crescent Energy (NYSE:CRGY) by 81.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,748 shares of the company’s stock after selling 124,818 shares during the quarter. Sunbelt Securities Inc.’s holdings in Crescent Energy were worth $342,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $54,000 after acquiring an additional 2,934 shares during the period. Northside Capital Management LLC acquired a new position in Crescent Energy during the first quarter valued at approximately $4,453,000. Vanguard Group Inc. lifted its stake in Crescent Energy by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock worth $107,945,000 after purchasing an additional 530,199 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Crescent Energy by 21.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,668,560 shares of the company’s stock valued at $22,042,000 after purchasing an additional 291,990 shares in the last quarter. Finally, CoreCommodity Management LLC increased its stake in shares of Crescent Energy by 148.6% in the 4th quarter. CoreCommodity Management LLC now owns 78,343 shares of the company’s stock valued at $1,035,000 after purchasing an additional 46,825 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CRGY. Truist Financial raised their price objective on Crescent Energy from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Crescent Energy in a report on Tuesday, March 5th. Mizuho increased their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Tudor, Pickering, Holt & Co. started coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and a consensus target price of $16.56.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $11.93 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Crescent Energy has a twelve month low of $9.74 and a twelve month high of $14.22. The company’s fifty day moving average is $11.82 and its 200 day moving average is $11.63.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.28. Crescent Energy had a negative net margin of 0.67% and a positive return on equity of 12.90%. The business had revenue of $657.47 million for the quarter, compared to analyst estimates of $579.44 million. On average, sell-side analysts predict that Crescent Energy will post 1.65 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.03%. The ex-dividend date was Monday, May 20th. Crescent Energy’s dividend payout ratio (DPR) is presently -239.99%.

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.