Riposte Capital LLC Purchases Shares of 1,665,000 Crescent Energy (NYSE:CRGY)

Riposte Capital LLC acquired a new position in Crescent Energy (NYSE:CRGY - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,665,000 shares of the company's stock, valued at approximately $18,232,000. Crescent Energy makes up 2.0% of Riposte Capital LLC's portfolio, making the stock its 3rd largest holding. Riposte Capital LLC owned approximately 0.94% of Crescent Energy as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRGY. CWM LLC grew its stake in shares of Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company's stock valued at $25,000 after acquiring an additional 1,832 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crescent Energy during the second quarter valued at about $32,000. Farther Finance Advisors LLC grew its stake in shares of Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company's stock valued at $35,000 after acquiring an additional 3,135 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Crescent Energy during the second quarter valued at about $36,000. Finally, Amalgamated Bank grew its stake in shares of Crescent Energy by 86.4% during the third quarter. Amalgamated Bank now owns 4,903 shares of the company's stock valued at $54,000 after acquiring an additional 2,272 shares in the last quarter. Hedge funds and other institutional investors own 52.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRGY. Evercore ISI reaffirmed an "outperform" rating and set a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. JPMorgan Chase & Co. began coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a "neutral" rating and a $12.00 price target on the stock. Truist Financial increased their price target on shares of Crescent Energy from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday. Mizuho increased their price target on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Finally, Raymond James increased their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Crescent Energy has a consensus rating of "Buy" and a consensus target price of $16.60.

Crescent Energy Stock Performance

CRGY traded up $0.15 during trading on Thursday, hitting $14.65. The stock had a trading volume of 3,170,160 shares, compared to its average volume of 2,404,028. The firm has a market cap of $3.34 billion, a PE ratio of 23.68 and a beta of 2.17. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. 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 50 day simple moving average of $13.24 and a 200-day simple moving average of $12.23.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. The firm had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter last year, the firm posted $0.35 EPS. Analysts expect that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid 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 3.28%. Crescent Energy's payout ratio is currently 77.42%.

Crescent Energy Company 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.