Kore Advisors LP Acquires 214,939 Shares of Crescent Energy Company $CRGY

Kore Advisors LP raised its position in Crescent Energy Company (NYSE:CRGY) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,479,256 shares of the company’s stock after buying an additional 214,939 shares during the period. Crescent Energy makes up about 14.0% of Kore Advisors LP’s holdings, making the stock its 3rd biggest holding. Kore Advisors LP owned approximately 0.58% of Crescent Energy worth $12,722,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CRGY. Brooklyn Investment Group increased its position in Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock worth $28,000 after buying an additional 2,254 shares during the period. GAMMA Investing LLC boosted its stake in Crescent Energy by 287.3% during the second quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock valued at $82,000 after buying an additional 7,110 shares in the last quarter. MQS Management LLC acquired a new stake in Crescent Energy in the 2nd quarter valued at about $91,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Crescent Energy in the 2nd quarter worth approximately $97,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Crescent Energy by 26.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,726 shares of the company’s stock worth $109,000 after purchasing an additional 2,624 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Stock Performance

CRGY opened at $9.47 on Friday. The stock’s 50 day simple moving average is $8.78 and its 200-day simple moving average is $8.96. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.41 billion, a PE ratio of -52.58 and a beta of 1.85. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY) last issued its earnings results on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The business had revenue of $866.58 million during the quarter, compared to analysts’ expectations of $887.54 million. Sell-side analysts forecast that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a yield of 5.1%. Crescent Energy’s dividend payout ratio is presently -320.00%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Mizuho set a $11.00 target price on Crescent Energy in a research report on Tuesday, November 4th. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the company a “strong-buy” rating in a research note on Wednesday, August 27th. William Blair began coverage on shares of Crescent Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Finally, Piper Sandler reduced their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Crescent Energy presently has a consensus rating of “Moderate Buy” and an average price target of $15.11.

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.