Phocas Financial Corp. Invests $3.40 Million in Crescent Energy (NYSE:CRGY)

Phocas Financial Corp. acquired a new stake in Crescent Energy (NYSE:CRGY - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 310,539 shares of the company's stock, valued at approximately $3,400,000. Phocas Financial Corp. owned approximately 0.17% of Crescent Energy at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its position in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company's stock worth $25,000 after acquiring an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Crescent Energy in the second quarter worth $32,000. Farther Finance Advisors LLC raised its position in Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock worth $35,000 after acquiring an additional 3,135 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in Crescent Energy in the second quarter worth $36,000. Finally, Amalgamated Bank raised its position in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock worth $54,000 after acquiring an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CRGY shares. Mizuho raised their price target on Crescent Energy from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Stephens raised their price target on Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Wells Fargo & Company dropped their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Evercore ISI restated an "outperform" rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Pickering Energy Partners began coverage on Crescent Energy in a research report on Monday, October 28th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $15.80.

Crescent Energy Stock Up 0.5 %

Shares of NYSE CRGY traded up $0.07 during trading hours on Tuesday, hitting $14.18. The company had a trading volume of 1,011,662 shares, compared to its average volume of 2,336,859. The firm's 50 day moving average is $12.32 and its 200-day moving average is $11.99. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $14.24. The stock has a market capitalization of $3.24 billion, a P/E ratio of 22.76 and a beta of 2.19. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to analysts' expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period last year, the firm posted $0.35 earnings per share. On average, analysts expect that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.39%. The ex-dividend date is Monday, November 18th. Crescent Energy's dividend payout ratio is presently 77.42%.

Crescent Energy Profile

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.