Sei Investments Co. Has $10.06 Million Stock Holdings in Crescent Energy (NYSE:CRGY)

Sei Investments Co. raised its position in Crescent Energy (NYSE:CRGY) by 1,852.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 848,798 shares of the company’s stock after acquiring an additional 805,328 shares during the period. Sei Investments Co. owned about 0.48% of Crescent Energy worth $10,058,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased 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 valued at $25,000 after purchasing an additional 1,832 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Crescent Energy in the 2nd quarter valued at $32,000. Spirit of America Management Corp NY bought a new position in shares of Crescent Energy during the 2nd quarter worth about $36,000. GAMMA Investing LLC boosted its position in shares of Crescent Energy by 186.5% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock valued at $54,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Equitec Proprietary Markets LLC bought a new stake in Crescent Energy in the second quarter valued at about $107,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Trading Up 3.3 %

CRGY opened at $11.13 on Friday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $13.85. The firm has a 50-day moving average price of $11.23 and a two-hundred day moving average price of $11.59. The stock has a market capitalization of $1.98 billion, a PE ratio of -55.65 and a beta of 2.26. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. As a group, equities analysts anticipate that Crescent Energy will post 1.5 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Crescent Energy’s dividend payout ratio is -239.99%.

Analyst Ratings Changes

A number of research analysts have commented on CRGY shares. Mizuho cut their price target on shares of Crescent Energy from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a research note on Tuesday, September 24th. Truist Financial cut their price objective on Crescent Energy from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Stephens restated an “overweight” rating and issued a $20.00 target price on shares of Crescent Energy in a research note on Tuesday, August 6th. Finally, 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 target price for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.70.

Insider Buying and Selling

In other Crescent Energy news, Director Michael Duginski bought 9,344 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the transaction, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought a total of 12,294 shares of company stock worth $131,297 over the last three months. 13.20% of the stock is currently owned by company insiders.

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.