Crescent Energy (NYSE:CRGY) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its position in Crescent Energy (NYSE:CRGY) by 22.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 47,328 shares of the company’s stock after selling 14,031 shares during the period. Stifel Financial Corp’s holdings in Crescent Energy were worth $518,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Crescent Energy by 444.8% during the 2nd quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after purchasing an additional 6,348,598 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after buying an additional 33,626 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Crescent Energy by 48.4% during the third quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company’s stock worth $33,643,000 after buying an additional 1,001,552 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Crescent Energy by 77.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,029,818 shares of the company’s stock worth $33,177,000 after acquiring an additional 1,324,328 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Upgrades and Downgrades

CRGY has been the subject of a number of recent research reports. Mizuho lifted their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Wells Fargo & Company cut their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Raymond James raised 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. Truist Financial boosted their price target on Crescent Energy from $16.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. started coverage on Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $16.80.

Crescent Energy Stock Performance

Shares of CRGY opened at $13.84 on Friday. The firm has a fifty day moving average of $13.76 and a 200-day moving average of $12.42. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 22.32 and a beta of 2.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $15.54.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. The firm had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities analysts anticipate that Crescent Energy will post 0.98 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s payout ratio is currently 77.42%.

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.