Creative Planning Buys 30,530 Shares of Crescent Energy (NYSE:CRGY)

Creative Planning boosted its stake in shares of Crescent Energy (NYSE:CRGY) by 37.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,834 shares of the company’s stock after purchasing an additional 30,530 shares during the quarter. Creative Planning owned about 0.06% of Crescent Energy worth $1,236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRGY. CWM LLC grew its stake in Crescent Energy by 618.9% in the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after buying an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crescent Energy in the second quarter valued at about $32,000. Spirit of America Management Corp NY bought a new position in shares of Crescent Energy in the second quarter worth about $36,000. Equitec Proprietary Markets LLC acquired a new position in shares of Crescent Energy during the 2nd quarter worth about $107,000. Finally, Principal Financial Group Inc. bought a new stake in Crescent Energy during the 2nd quarter valued at approximately $125,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a research note on Wednesday, September 18th. They set a “neutral” rating and a $12.00 target price for the company. Pickering Energy Partners began coverage on shares of Crescent Energy in a research report on Monday. They issued an “outperform” rating on the stock. Wolfe Research initiated coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Truist Financial lowered their price target on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. 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 MarketBeat.com, Crescent Energy has an average rating of “Buy” and a consensus price target of $15.70.

Insiders Place Their Bets

In related news, Director Michael Duginski purchased 9,344 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $10.62 per share, with a total value of $99,233.28. Following the completion of the acquisition, the director now directly owns 201,081 shares in the company, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 12,294 shares of company stock valued at $131,297 in the last 90 days. 13.20% of the stock is currently owned by insiders.

Crescent Energy Price Performance

Shares of Crescent Energy stock opened at $12.43 on Thursday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The firm’s 50-day moving average price is $11.79 and its two-hundred day moving average price is $11.75. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 621.50 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. On average, equities analysts predict that Crescent Energy will post 1.27 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 annualized dividend and a yield of 3.86%. Crescent Energy’s dividend payout ratio (DPR) is 2,400.00%.

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.