88,524 Shares in Crescent Energy Company (NYSE:CRGY) Purchased by Carrera Capital Advisors

Key Points

• Carrera Capital Advisors has acquired a new stake in Crescent Energy Company by purchasing 88,524 shares, valued at approximately $995,000.
• Crescent Energy reported earnings per share of $0.56 for the last quarter, exceeding analysts' estimates of $0.47, along with a revenue of $950.17 million.
• The company recently announced a quarterly dividend of $0.12 per share, representing a yield of 5.21%, despite a payout ratio of -106.67%.

Carrera Capital Advisors bought a new stake in shares of Crescent Energy Company (NYSE:CRGY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 88,524 shares of the company's stock, valued at approximately $995,000.

Several other institutional investors have also made changes to their positions in the stock. Allworth Financial LP acquired a new position in shares of Crescent Energy in the 1st quarter valued at $34,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Crescent Energy by 35.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock valued at $40,000 after buying an additional 705 shares during the last quarter. Quarry LP grew its holdings in Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares during the period. KBC Group NV acquired a new position in Crescent Energy in the 1st quarter valued at about $117,000. Finally, Paloma Partners Management Co acquired a new position in shares of Crescent Energy in the fourth quarter valued at about $146,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Stock Performance

Shares of NYSE CRGY traded up $0.13 during midday trading on Tuesday, hitting $9.66. The company's stock had a trading volume of 3,342,319 shares, compared to its average volume of 3,457,896. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -21.46 and a beta of 1.74. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.10. The stock has a fifty day moving average price of $8.97 and a 200 day moving average price of $10.70. Crescent Energy Company has a one year low of $6.83 and a one year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a positive return on equity of 14.21% and a negative net margin of 2.88%. The business had revenue of $950.17 million for the quarter, compared to analysts' expectations of $937.55 million. On average, research analysts forecast that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 4.97%. Crescent Energy's dividend payout ratio (DPR) is presently -106.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRGY shares. Wells Fargo & Company dropped their target price on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Piper Sandler upped their target price on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. KeyCorp cut their price target on shares of Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Mizuho dropped their target price on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.10.

Crescent Energy Company 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.