Harbor Capital Advisors Inc. Acquires 21,221 Shares of Crescent Energy (NYSE:CRGY)

Harbor Capital Advisors Inc. increased its stake in shares of Crescent Energy (NYSE:CRGY) by 135.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,934 shares of the company’s stock after acquiring an additional 21,221 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Crescent Energy were worth $404,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRGY. Empowered Funds LLC boosted its holdings in shares of Crescent Energy by 50.9% during the 1st quarter. Empowered Funds LLC now owns 770,593 shares of the company’s stock valued at $9,170,000 after purchasing an additional 259,969 shares during the last quarter. SG Americas Securities LLC bought a new position in Crescent Energy during the first quarter valued at approximately $210,000. Swiss National Bank grew its holdings in Crescent Energy by 19.3% during the 1st quarter. Swiss National Bank now owns 183,980 shares of the company’s stock valued at $2,189,000 after buying an additional 29,800 shares in the last quarter. Sei Investments Co. increased its stake in Crescent Energy by 14.9% in the 1st quarter. Sei Investments Co. now owns 43,470 shares of the company’s stock worth $517,000 after acquiring an additional 5,624 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,085 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Stock Up 1.2 %

Shares of NYSE:CRGY opened at $13.52 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $11.95 and its 200 day moving average is $11.82. The stock has a market cap of $2.40 billion, a P/E ratio of 21.80 and a beta of 2.19. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $13.85.

Crescent Energy (NYSE:CRGY) 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 firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a return on equity of 14.01% and a net margin of 2.17%. During the same quarter last year, the firm posted $0.35 earnings per share. Sell-side analysts predict that Crescent Energy will post 1.11 EPS for the current year.

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.55%. Crescent Energy’s dividend payout ratio is currently 77.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRGY shares. Pickering Energy Partners began coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Stephens boosted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a report on Tuesday, September 24th. Wolfe Research assumed coverage on Crescent Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.80.

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.