Crescent Energy (NYSE:CRGY) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its stake in Crescent Energy (NYSE:CRGY) by 20.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,965 shares of the company’s stock after buying an additional 22,702 shares during the quarter. Rhumbline Advisers owned 0.07% of Crescent Energy worth $1,564,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CWM LLC lifted its holdings in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after acquiring an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Crescent Energy during the second quarter worth $32,000. Spirit of America Management Corp NY purchased a new stake in Crescent Energy during the second quarter worth $36,000. GAMMA Investing LLC increased its holdings in Crescent Energy by 186.5% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after buying an additional 2,934 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Crescent Energy by 58.5% in the fourth quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock worth $98,000 after acquiring an additional 2,748 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 0.1 %

Shares of Crescent Energy stock opened at $11.46 on Friday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market cap of $2.03 billion, a P/E ratio of -57.95 and a beta of 2.26. The stock’s 50 day simple moving average is $11.35 and its 200-day simple moving average is $11.58.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The company had revenue of $653.28 million for the quarter, compared to analyst estimates of $619.00 million. Analysts predict that Crescent Energy will post 1.31 EPS for the current fiscal year.

Crescent Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRGY. JPMorgan Chase & Co. started coverage on Crescent Energy in a research report on Wednesday. They set a “neutral” rating and a $12.00 target price on the stock. Truist Financial cut their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. KeyCorp initiated coverage on Crescent Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $16.00 target price on the stock. Mizuho cut their price target on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Crescent Energy in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.27.

Insider Buying and Selling at Crescent Energy

In other news, Director Michael Duginski purchased 9,344 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, for a total transaction of $99,233.28. Following the acquisition, the director now directly owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 12,294 shares of company stock worth $131,297 in the last ninety days. 13.20% of the stock is owned by insiders.

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.