Citigroup Inc. boosted its stake in shares of Crescent Energy (NYSE:CRGY - Free Report) by 335.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,940 shares of the company's stock after acquiring an additional 264,883 shares during the quarter. Citigroup Inc. owned 0.19% of Crescent Energy worth $3,766,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CRGY. CWM LLC boosted its stake 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 purchasing an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Crescent Energy in the 2nd quarter valued at about $32,000. Farther Finance Advisors LLC raised its stake in shares of 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 during the last quarter. Spirit of America Management Corp NY bought a new stake in shares of Crescent Energy during the second quarter valued at approximately $36,000. Finally, Amalgamated Bank raised its position in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company's stock worth $54,000 after purchasing an additional 2,272 shares during the last quarter. 52.11% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Raymond James raised their price target on Crescent Energy from $19.00 to $20.00 and gave the company a "strong-buy" rating in a report on Thursday, November 21st. Wells Fargo & Company reduced their target price on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Truist Financial boosted their price target on shares of Crescent Energy from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday. Stephens raised their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a "neutral" rating and a $12.00 target price 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $16.60.
Check Out Our Latest Report on CRGY
Crescent Energy Stock Down 0.6 %
Shares of CRGY traded down $0.08 on Thursday, hitting $14.42. The company's stock had a trading volume of 11,436,494 shares, compared to its average volume of 2,439,750. The firm's fifty day moving average price is $13.24 and its 200-day moving average price is $12.23. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $15.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 23.68 and a beta of 2.17.
Crescent Energy (NYSE:CRGY - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The company had revenue of $744.87 million during the quarter, compared to analysts' expectations of $793.88 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, equities research analysts expect that Crescent Energy will post 0.97 EPS for the current year.
Crescent Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.33%. Crescent Energy's payout ratio is presently 77.42%.
About Crescent Energy
(
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.
Featured Stories
Before you consider Crescent Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crescent Energy wasn't on the list.
While Crescent Energy currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
