Barclays PLC lifted its stake in Crescent Energy (NYSE:CRGY - Free Report) by 579.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,137 shares of the company's stock after acquiring an additional 205,657 shares during the period. Barclays PLC owned 0.11% of Crescent Energy worth $2,641,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CRGY. Jackson Creek Investment Advisors LLC grew its stake in Crescent Energy by 1.0% during the 2nd quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company's stock worth $1,078,000 after buying an additional 883 shares during the last quarter. Amalgamated Bank boosted its holdings 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. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy during the second quarter worth about $32,000. Mackenzie Financial Corp increased its holdings in shares of Crescent Energy by 23.5% during the second quarter. Mackenzie Financial Corp now owns 14,669 shares of the company's stock valued at $174,000 after acquiring an additional 2,796 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Crescent Energy by 15,675.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock valued at $35,000 after purchasing an additional 3,135 shares during the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.
Crescent Energy Stock Performance
Crescent Energy stock traded up $0.36 during midday trading on Wednesday, hitting $13.87. 806,969 shares of the company were exchanged, compared to its average volume of 2,553,928. The business has a fifty day simple moving average of $13.73 and a two-hundred day simple moving average of $12.41. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $3.17 billion, a PE ratio of 22.37 and a beta of 2.17. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $15.54.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. The business had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts forecast that Crescent Energy will post 0.98 earnings per share for the current year.
Crescent Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.46%. Crescent Energy's payout ratio is 77.42%.
Wall Street Analyst Weigh In
CRGY has been the topic of several research analyst reports. Stephens boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Wells Fargo & Company dropped their price objective on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Truist Financial upped their target price on Crescent Energy from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Raymond James lifted their price target on Crescent Energy from $19.00 to $20.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Finally, Evercore ISI reissued an "outperform" rating and issued a $17.00 price objective on shares of Crescent Energy in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $16.80.
Read Our Latest Research Report on Crescent Energy
Crescent Energy Company Profile
(
Free Report)
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.
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