Callahan Advisors LLC Takes Position in Crescent Energy (NYSE:CRGY)

Callahan Advisors LLC bought a new position in Crescent Energy (NYSE:CRGY - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 54,938 shares of the company's stock, valued at approximately $602,000.

A number of other hedge funds have also added to or reduced their stakes in CRGY. Jupiter Asset Management Ltd. purchased a new stake in shares of Crescent Energy in the 1st quarter valued at about $2,877,000. GSA Capital Partners LLP raised its stake in Crescent Energy by 901.7% in the first quarter. GSA Capital Partners LLP now owns 100,681 shares of the company's stock valued at $1,198,000 after purchasing an additional 90,630 shares in the last quarter. Moody National Bank Trust Division bought a new stake in Crescent Energy during the second quarter valued at approximately $769,000. Interval Partners LP purchased a new position in Crescent Energy in the 2nd quarter worth approximately $1,835,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Crescent Energy during the 2nd quarter worth $3,496,000. Hedge funds and other institutional investors own 52.11% of the company's stock.

Crescent Energy Stock Up 3.8 %

CRGY traded up $0.49 on Wednesday, hitting $13.44. The company had a trading volume of 1,906,147 shares, compared to its average volume of 2,353,996. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.87 and a quick ratio of 1.87. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85. The firm has a market capitalization of $2.39 billion, a P/E ratio of 669.50 and a beta of 2.19. The stock has a fifty day simple moving average of $11.89 and a 200-day simple moving average of $11.79.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. The business had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. During the same quarter last year, the firm posted $0.35 earnings per share. As a group, equities analysts expect that Crescent Energy will post 1.11 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.57%. Crescent Energy's dividend payout ratio is currently 2,400.00%.

Analyst Ratings Changes

CRGY has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Pickering Energy Partners began coverage on Crescent Energy in a research note on Monday, October 28th. They issued an "outperform" rating for the company. Wells Fargo & Company reduced their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Mizuho boosted their price objective on Crescent Energy from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wolfe Research began coverage on Crescent Energy in a research note on Thursday, July 18th. They set an "outperform" rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy currently has an average rating of "Buy" and a consensus price target of $15.80.

Insider Buying and Selling

In other news, Director Michael Duginski acquired 9,344 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $10.62 per share, with a total value of $99,233.28. Following the transaction, the director now owns 201,081 shares of the company's stock, valued at $2,135,480.22. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 12,294 shares of company stock worth $131,297 in the last 90 days. Insiders own 13.20% of the company's stock.

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.