Inspire Investing LLC Takes $1.12 Million Position in Crescent Energy (NYSE:CRGY)

Inspire Investing LLC bought a new stake in Crescent Energy (NYSE:CRGY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 94,433 shares of the company’s stock, valued at approximately $1,119,000. Inspire Investing LLC owned 0.05% of Crescent Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. bought a new stake in shares of Crescent Energy in the first quarter valued at about $2,877,000. Vanguard Group Inc. boosted its position in shares of Crescent Energy by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 8,171,426 shares of the company’s stock valued at $107,945,000 after acquiring an additional 530,199 shares during the period. GSA Capital Partners LLP boosted its position in shares of Crescent Energy by 901.7% in the first quarter. GSA Capital Partners LLP now owns 100,681 shares of the company’s stock valued at $1,198,000 after acquiring an additional 90,630 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Crescent Energy in the fourth quarter valued at about $1,393,000. Finally, Moody National Bank Trust Division bought a new stake in shares of Crescent Energy in the second quarter valued at about $769,000. Institutional investors own 52.11% of the company’s stock.

Insider Transactions at Crescent Energy

In other news, Director Michael Duginski acquired 9,344 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $10.62 per share, with a total value of $99,233.28. Following the completion of the purchase, the director now directly owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders purchased 12,294 shares of company stock valued at $131,297. 13.20% of the stock is currently owned by insiders.

Crescent Energy Stock Up 3.2 %

CRGY stock opened at $11.46 on Friday. The stock has a market capitalization of $2.03 billion, a P/E ratio of -57.28 and a beta of 2.26. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $13.85. The firm has a 50-day moving average price of $11.37 and a 200-day moving average price of $11.58.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. As a group, equities research analysts anticipate that Crescent Energy will post 1.31 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.12 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.19%. Crescent Energy’s dividend payout ratio (DPR) is currently -240.00%.

Analysts Set New Price Targets

CRGY has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Wolfe Research initiated coverage on shares of Crescent Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Crescent Energy in a research report on Tuesday, August 6th. KeyCorp initiated coverage on shares of Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.27.

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.