Quest Partners LLC Invests $189,000 in Crescent Energy (NYSE:CRGY)

Quest Partners LLC bought a new stake in Crescent Energy (NYSE:CRGY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 17,231 shares of the company’s stock, valued at approximately $189,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Crescent Energy by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock valued at $110,775,000 after purchasing an additional 1,137,367 shares during the last quarter. American Century Companies Inc. grew its stake in shares of 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 in the last quarter. Marshall Wace LLP grew its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Crescent Energy by 85.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock worth $31,477,000 after acquiring an additional 1,226,027 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in shares of Crescent Energy in the third quarter worth $11,146,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRGY shares. Pickering Energy Partners started coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Wells Fargo & Company dropped their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Truist Financial dropped their price target on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. started coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and an average price target of $16.30.

Crescent Energy Price Performance

Shares of CRGY opened at $14.81 on Thursday. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $15.54. The stock has a market cap of $3.38 billion, a PE ratio of 23.89 and a beta of 2.19. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a fifty day moving average price of $12.83 and a 200 day moving average price of $12.12.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Crescent Energy will post 0.97 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 3.24%. 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.