Kore Advisors LP bought a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,338,053 shares of the company's stock, valued at approximately $14,652,000. Crescent Energy comprises approximately 4.2% of Kore Advisors LP's portfolio, making the stock its 3rd largest holding. Kore Advisors LP owned approximately 0.75% of Crescent Energy at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its stake in Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company's stock worth $25,000 after buying an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crescent Energy during the second quarter worth about $32,000. Farther Finance Advisors LLC lifted its holdings in shares of Crescent Energy by 15,675.0% during 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 in the last quarter. Spirit of America Management Corp NY acquired a new position in shares of Crescent Energy in the 2nd quarter valued at approximately $36,000. Finally, Amalgamated Bank increased its stake in Crescent Energy by 86.4% during 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 in the last quarter. 52.11% of the stock is currently owned by institutional investors.
Crescent Energy Stock Performance
Shares of CRGY traded up $0.06 during midday trading on Friday, reaching $14.87. The stock had a trading volume of 949,064 shares, compared to its average volume of 2,122,284. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The firm has a 50 day simple moving average of $13.04 and a 200-day simple moving average of $12.17. The firm has a market cap of $3.39 billion, a PE ratio of 23.98 and a beta of 2.19. Crescent Energy has a one year low of $9.88 and a one year high of $15.54.
Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share (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 the consensus estimate 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 last year, the firm posted $0.35 EPS. As a group, sell-side analysts anticipate that Crescent Energy will post 0.97 EPS for the current year.
Crescent Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Crescent Energy's dividend payout ratio is 77.42%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Truist Financial cut their price target on shares of Crescent Energy from $19.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Mizuho upped their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Raymond James lifted their target price on Crescent Energy from $19.00 to $20.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 21st. Pickering Energy Partners assumed coverage on Crescent Energy in a research report on Monday, October 28th. They set an "outperform" rating for the company. Finally, Wells Fargo & Company lowered 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. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $16.30.
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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.
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