Wedmont Private Capital Takes $156,000 Position in Crescent Energy (NYSE:CRGY)

Wedmont Private Capital purchased a new position in Crescent Energy (NYSE:CRGY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,255 shares of the company’s stock, valued at approximately $156,000.

Other large investors also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC increased its stake in shares of Crescent Energy by 1.0% during the second quarter. Jackson Creek Investment Advisors LLC now owns 90,933 shares of the company’s stock worth $1,078,000 after purchasing an additional 883 shares in the last quarter. ProShare Advisors LLC increased its stake in Crescent Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock worth $165,000 after buying an additional 1,085 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Crescent Energy by 5.1% during the first quarter. Quadrature Capital Ltd now owns 30,744 shares of the company’s stock valued at $366,000 after acquiring an additional 1,503 shares during the last quarter. CWM LLC lifted its position in shares of Crescent Energy by 618.9% in 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. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Crescent Energy in the second quarter valued at approximately $32,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Trading Up 1.9 %

Shares of NYSE CRGY opened at $13.46 on Monday. The stock has a fifty day simple moving average of $11.37 and a 200-day simple moving average of $11.69. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $13.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $2.39 billion, a PE ratio of 673.00 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $653.28 million during the quarter, compared to the consensus estimate of $619.00 million. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. On average, equities analysts forecast that Crescent Energy will post 1.28 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Monday, August 19th. This represents a $0.48 dividend on an annualized basis and a yield of 3.57%. Crescent Energy’s dividend payout ratio (DPR) is presently 2,400.00%.

Insider Buying and Selling at Crescent Energy

In related news, Director Michael Duginski acquired 9,344 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $10.62 per share, with a total value of $99,233.28. Following the completion of the transaction, the director now owns 201,081 shares of the company’s stock, valued at $2,135,480.22. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 12,294 shares of company stock valued at $131,297 in the last 90 days. Company insiders own 13.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRGY has been the subject of several recent research reports. Evercore ISI reissued an “outperform” rating and issued a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Wells Fargo & Company reduced their target price on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Wolfe Research assumed coverage on shares of Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Stephens restated an “overweight” rating and set a $20.00 target price on shares of Crescent Energy in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Crescent Energy currently has a consensus rating of “Buy” and an average target price of $16.20.

About Crescent Energy

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.