GAMMA Investing LLC Boosts Stock Position in Crescent Energy (NYSE:CRGY)

GAMMA Investing LLC lifted its position in Crescent Energy (NYSE:CRGY) by 48.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,978 shares of the company’s stock after purchasing an additional 1,621 shares during the quarter. GAMMA Investing LLC’s holdings in Crescent Energy were worth $73,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after buying an additional 3,135 shares during the last quarter. Amalgamated Bank increased its stake in shares of Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the period. Zacks Investment Management purchased a new position in shares of Crescent Energy during the third quarter worth $121,000. Principal Financial Group Inc. acquired a new position in Crescent Energy during the second quarter valued at $125,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Crescent Energy during the third quarter valued at $155,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Up 1.2 %

CRGY stock opened at $15.92 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.24. The stock has a market capitalization of $3.63 billion, a P/E ratio of 25.68 and a beta of 2.17. The firm has a 50-day simple moving average of $14.36 and a 200-day simple moving average of $12.66.

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 business had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same quarter last year, the business posted $0.35 earnings per share. Equities analysts forecast that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s payout ratio is 77.42%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRGY. Mizuho lifted their price objective on Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. 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. Pickering Energy Partners started coverage on Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Finally, Raymond James lifted their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.80.

Crescent Energy Company 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.