Amalgamated Bank Acquires 2,272 Shares of Crescent Energy (NYSE:CRGY)

Amalgamated Bank raised its holdings in Crescent Energy (NYSE:CRGY) by 86.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,903 shares of the company’s stock after purchasing an additional 2,272 shares during the quarter. Amalgamated Bank’s holdings in Crescent Energy were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CRGY. Vanguard Group Inc. boosted its holdings in shares of Crescent Energy by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after buying an additional 1,137,367 shares during the last quarter. American Century Companies Inc. raised its position in Crescent Energy by 444.8% in the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after acquiring an additional 6,348,598 shares during the period. Marshall Wace LLP raised its position in Crescent Energy by 286.7% in the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock worth $33,537,000 after acquiring an additional 2,098,303 shares during the period. Dimensional Fund Advisors LP boosted its stake in Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after acquiring an additional 1,226,027 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Crescent Energy by 63.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,590,748 shares of the company’s stock valued at $18,930,000 after acquiring an additional 614,969 shares during the period. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRGY shares. Stephens lifted their price target 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. Wells Fargo & Company dropped their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Truist Financial decreased their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a report on Monday, September 30th. 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 report on Tuesday, November 5th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.80.

Crescent Energy Stock Performance

NYSE CRGY opened at $14.11 on Tuesday. The company’s 50 day simple moving average is $12.32 and its two-hundred day simple moving average is $11.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $14.24. The stock has a market capitalization of $3.22 billion, a PE ratio of 22.76 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The company had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same quarter last year, the business posted $0.35 earnings per share. Analysts predict that Crescent Energy will post 0.97 earnings per share for the current fiscal 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 given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.40%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

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.