Citigroup Inc. Has $3.77 Million Position in Crescent Energy (NYSE:CRGY)

Citigroup Inc. grew its holdings in Crescent Energy (NYSE:CRGY) by 335.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 343,940 shares of the company’s stock after purchasing an additional 264,883 shares during the quarter. Citigroup Inc. owned about 0.19% of Crescent Energy worth $3,766,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Crescent Energy by 59.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,586,265 shares of the company’s stock valued at $17,370,000 after purchasing an additional 589,665 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Crescent Energy in the third quarter worth about $155,000. Intech Investment Management LLC bought a new stake in shares of Crescent Energy in the third quarter worth about $350,000. Jennison Associates LLC increased its holdings in shares of Crescent Energy by 123.9% in the third quarter. Jennison Associates LLC now owns 1,430,964 shares of the company’s stock worth $15,669,000 after acquiring an additional 791,794 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Crescent Energy by 48.4% in the third quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company’s stock worth $33,643,000 after acquiring an additional 1,001,552 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Price Performance

NYSE:CRGY opened at $14.49 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average price is $13.18 and its two-hundred day moving average price is $12.22. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 24.43 and a beta of 2.17. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $15.54.

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

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is 77.42%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRGY. JPMorgan Chase & Co. began coverage on Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective for the company. Truist Financial reduced their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Pickering Energy Partners began coverage on Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating for the company. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company reduced their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Two investment 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 stock. According to data from MarketBeat, Crescent Energy has a consensus rating of “Buy” and a consensus price target of $16.30.

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.