Cetera Investment Advisers Purchases 163,268 Shares of Crescent Energy Company $CRGY

Cetera Investment Advisers raised its position in shares of Crescent Energy Company (NYSE:CRGY) by 5.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,341,779 shares of the company’s stock after purchasing an additional 163,268 shares during the period. Cetera Investment Advisers’ holdings in Crescent Energy were worth $45,114,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRGY. Osaic Holdings Inc. boosted its holdings in shares of Crescent Energy by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after purchasing an additional 1,066 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Crescent Energy by 1.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 65,241 shares of the company’s stock valued at $547,000 after buying an additional 1,152 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Crescent Energy by 2.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock worth $526,000 after buying an additional 1,245 shares during the last quarter. AQR Capital Management LLC lifted its position in Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock worth $192,000 after buying an additional 1,397 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Down 0.9%

Shares of CRGY stock opened at $11.29 on Friday. The stock has a market capitalization of $3.73 billion, a PE ratio of -15.05 and a beta of 1.40. Crescent Energy Company has a 1-year low of $7.68 and a 1-year high of $14.29. The business has a 50-day moving average of $11.06 and a 200 day moving average of $11.18. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57.

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

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.48 annualized dividend and a dividend yield of 4.3%. Crescent Energy’s dividend payout ratio (DPR) is currently -64.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRGY. Stephens reiterated an “overweight” rating and set a $18.00 price target on shares of Crescent Energy in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Raymond James Financial cut their price objective on shares of Crescent Energy from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Thursday, June 18th. UBS Group started coverage on shares of Crescent Energy in a report on Tuesday, July 14th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Wall Street Zen cut shares of Crescent Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.58.

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.