Crescent Energy (NYSE:CRGY) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in shares of Crescent Energy (NYSE:CRGY) by 15,675.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,155 shares of the company’s stock after acquiring an additional 3,135 shares during the period. Farther Finance Advisors LLC’s holdings in Crescent Energy were worth $35,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRGY. SG Americas Securities LLC acquired a new stake in shares of Crescent Energy during the first quarter valued at about $210,000. Swiss National Bank boosted its position in shares of Crescent Energy by 19.3% in the 1st quarter. Swiss National Bank now owns 183,980 shares of the company’s stock valued at $2,189,000 after purchasing an additional 29,800 shares during the period. Sei Investments Co. increased its stake in Crescent Energy by 14.9% in the first quarter. Sei Investments Co. now owns 43,470 shares of the company’s stock valued at $517,000 after purchasing an additional 5,624 shares during the period. ProShare Advisors LLC increased its holdings in shares of Crescent Energy by 8.5% in the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after purchasing an additional 1,085 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Crescent Energy during the first quarter worth about $262,000. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Stock Performance

Shares of NYSE:CRGY opened at $13.99 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $2.48 billion, a PE ratio of 22.56 and a beta of 2.19. The business has a fifty day moving average of $12.19 and a 200-day moving average of $11.92. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $14.18.

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

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. Crescent Energy’s dividend payout ratio is presently 77.42%.

Analyst Upgrades and Downgrades

CRGY has been the topic of a number of research analyst reports. Truist Financial decreased their target price on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company decreased their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Pickering Energy Partners initiated coverage on Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating on the stock. Stephens lifted their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Mizuho boosted their price target on Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.80.

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.