CM Management LLC Purchases Shares of 175,000 Crescent Energy Company $CRGY

CM Management LLC acquired a new stake in shares of Crescent Energy Company (NYSE:CRGY) during the third quarter, Holdings Channel reports. The fund acquired 175,000 shares of the company’s stock, valued at approximately $1,561,000. Crescent Energy makes up about 1.3% of CM Management LLC’s investment portfolio, making the stock its 27th biggest position.

Several other large investors have also recently modified their holdings of the stock. Caitlin John LLC purchased a new stake in Crescent Energy during the 3rd quarter valued at about $27,000. Nisa Investment Advisors LLC increased its stake in Crescent Energy by 50.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,241 shares during the period. Osaic Holdings Inc. lifted its position in Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock valued at $46,000 after purchasing an additional 1,066 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Crescent Energy by 135.8% in the third quarter. Hantz Financial Services Inc. now owns 6,018 shares of the company’s stock valued at $54,000 after purchasing an additional 3,466 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Crescent Energy by 1,227.9% during the second quarter. NewEdge Advisors LLC now owns 11,951 shares of the company’s stock valued at $103,000 after purchasing an additional 11,051 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRGY. Zacks Research upgraded shares of Crescent Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price target on shares of Crescent Energy in a report on Sunday, January 25th. William Blair reissued an “outperform” rating on shares of Crescent Energy in a research report on Friday. Piper Sandler raised their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Evercore initiated coverage on shares of Crescent Energy in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

Crescent Energy Price Performance

CRGY opened at $11.77 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.48. Crescent Energy Company has a 52-week low of $6.83 and a 52-week high of $12.40. The stock has a market capitalization of $3.86 billion, a PE ratio of 22.63 and a beta of 1.57. The stock’s 50 day moving average price is $9.54 and its 200-day moving average price is $9.12.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.19. The company had revenue of $865.05 million during the quarter, compared to the consensus estimate of $884.64 million. Crescent Energy had a return on equity of 8.36% and a net margin of 3.71%. On average, equities research analysts predict that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.48 annualized dividend and a yield of 4.1%. Crescent Energy’s dividend payout ratio is 92.31%.

Crescent Energy Profile

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.