21,360 Shares in Crescent Energy (NYSE:CRGY) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in Crescent Energy (NYSE:CRGY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,360 shares of the company’s stock, valued at approximately $312,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRGY. Allspring Global Investments Holdings LLC acquired a new position in shares of Crescent Energy in the second quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its holdings 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 worth $35,000 after purchasing an additional 3,135 shares during the period. Amalgamated Bank grew its position in Crescent Energy by 86.4% in the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock valued at $54,000 after buying an additional 2,272 shares during the last quarter. GAMMA Investing LLC increased its stake in Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock valued at $73,000 after buying an additional 1,621 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Crescent Energy during the 2nd quarter worth $125,000. 52.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRGY has been the topic of several analyst reports. Mizuho lifted their target price on shares of Crescent Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Stephens lifted their price objective on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Pickering Energy Partners assumed coverage on Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating on the stock. Raymond James raised their price target on Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. 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 target on the stock. Two investment 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 data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.80.

Crescent Energy Stock Up 1.9 %

CRGY opened at $15.33 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 24.73 and a beta of 2.17. Crescent Energy has a one year low of $9.88 and a one year high of $15.54. The business’s fifty day moving average is $14.08 and its two-hundred day moving average is $12.56.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The business had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. During the same period in the previous year, the firm earned $0.35 EPS. Analysts anticipate that Crescent Energy will post 0.98 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.13%. Crescent Energy’s dividend payout ratio is currently 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.