McAlvany Wealth Management LLC Buys 96,406 Shares of Crescent Energy Company $CRGY

McAlvany Wealth Management LLC grew its stake in Crescent Energy Company (NYSE:CRGY) by 71.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,105 shares of the company’s stock after acquiring an additional 96,406 shares during the quarter. Crescent Energy comprises about 2.0% of McAlvany Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. McAlvany Wealth Management LLC’s holdings in Crescent Energy were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position in Crescent Energy by 23.4% during the first quarter. Illinois Municipal Retirement Fund now owns 120,136 shares of the company’s stock valued at $1,622,000 after purchasing an additional 22,813 shares in the last quarter. NFSG Corp raised its holdings in Crescent Energy by 188.0% in the first quarter. NFSG Corp now owns 6,364 shares of the company’s stock worth $86,000 after purchasing an additional 4,154 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Crescent Energy during the first quarter valued at about $259,000. Principal Financial Group Inc. lifted its position in shares of Crescent Energy by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,181,635 shares of the company’s stock valued at $15,952,000 after buying an additional 29,673 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Crescent Energy in the 1st quarter valued at about $264,000. 52.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Mizuho lifted their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Wells Fargo & Company upped their price target on Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. upgraded Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.58.

Crescent Energy Stock Performance

CRGY opened at $10.73 on Friday. The company has a market cap of $3.55 billion, a P/E ratio of -14.31 and a beta of 1.40. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm’s 50-day moving average price is $11.21 and its 200-day moving average price is $11.09. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.14. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. Crescent Energy’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. As a group, equities analysts anticipate that Crescent Energy Company will post 1.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.5%. Crescent Energy’s dividend payout ratio (DPR) is currently -64.00%.

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.