Sunbelt Securities Inc. Buys 108,595 Shares of Crescent Energy Company $CRGY

Sunbelt Securities Inc. lifted its stake in Crescent Energy Company (NYSE:CRGY) by 382.3% in the third quarter, HoldingsChannel.com reports. The firm owned 136,999 shares of the company’s stock after purchasing an additional 108,595 shares during the quarter. Sunbelt Securities Inc.’s holdings in Crescent Energy were worth $1,222,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Crescent Energy by 16.1% during the 1st quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock worth $662,000 after buying an additional 8,173 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after buying an additional 1,397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Crescent Energy by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock worth $1,109,000 after acquiring an additional 6,184 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Crescent Energy by 42.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Crescent Energy by 32.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock valued at $2,748,000 after acquiring an additional 59,199 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $12.50 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 24.03 and a beta of 1.57. Crescent Energy Company has a fifty-two week low of $6.83 and a fifty-two week high of $12.53. The business has a 50-day moving average of $10.14 and a 200-day moving average of $9.26.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.19. The business had revenue of $865.05 million for the quarter, compared to analyst estimates of $884.64 million. Crescent Energy had a net margin of 3.71% and a return on equity of 8.36%. As a group, sell-side analysts predict that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.48 annualized dividend and a yield of 3.8%. Crescent Energy’s dividend payout ratio is presently 92.31%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRGY. BMO Capital Markets assumed coverage on Crescent Energy in a report on Friday, January 9th. They set a “market perform” rating and a $10.00 price objective for the company. Wells Fargo & Company boosted their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Crescent Energy in a research note on Sunday, January 25th. Mizuho lifted their target price on shares of Crescent Energy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Weiss Ratings raised Crescent Energy from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Crescent Energy Company 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.