Neo Ivy Capital Management Purchases Shares of 39,310 Crescent Energy (NYSE:CRGY)

Neo Ivy Capital Management purchased a new stake in shares of Crescent Energy (NYSE:CRGY - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 39,310 shares of the company's stock, valued at approximately $430,000.

Several other hedge funds also recently modified their holdings of CRGY. Jackson Creek Investment Advisors LLC grew its position in Crescent Energy by 1.0% in the second 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. CWM LLC raised its position in shares of Crescent Energy by 618.9% during 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 during the period. Amalgamated Bank raised its position in shares of Crescent Energy by 86.4% during the third 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 period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crescent Energy during the second quarter valued at $32,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Crescent Energy by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,999 shares of the company's stock valued at $453,000 after purchasing an additional 2,692 shares during the period. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho upped their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Truist Financial upped their price target on shares of Crescent Energy from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Evercore ISI reiterated an "outperform" rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Stephens increased their target price on Crescent Energy from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered their price target on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $16.60.

Crescent Energy Stock Down 0.1 %

NYSE CRGY traded down $0.01 on Thursday, reaching $14.77. The stock had a trading volume of 3,806,822 shares, compared to its average volume of 2,474,461. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $15.54. The business has a 50 day moving average price of $13.60 and a 200 day moving average price of $12.32. 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 company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 23.81 and a beta of 2.17.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations 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 previous year, the business posted $0.35 EPS. On average, analysts forecast that Crescent Energy will post 0.96 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.25%. Crescent Energy's dividend payout ratio is currently 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.