Cetera Investment Advisers Acquires 681,959 Shares of Crescent Energy Company (NYSE:CRGY)

Cetera Investment Advisers increased its position in Crescent Energy Company (NYSE:CRGY - Free Report) by 322.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 893,503 shares of the company's stock after purchasing an additional 681,959 shares during the period. Cetera Investment Advisers owned about 0.35% of Crescent Energy worth $10,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in 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 worth $40,000 after buying an additional 705 shares in the last quarter. Hsbc Holdings PLC lifted its position in Crescent Energy by 4.3% in the 4th quarter. Hsbc Holdings PLC now owns 18,902 shares of the company's stock worth $276,000 after buying an additional 785 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Crescent Energy by 4.0% in the 4th quarter. Dark Forest Capital Management LP now owns 33,350 shares of the company's stock worth $487,000 after buying an additional 1,282 shares in the last quarter. Yousif Capital Management LLC lifted its position in Crescent Energy by 2.1% in the 1st quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock worth $751,000 after buying an additional 1,382 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Crescent Energy by 3.0% in the 1st quarter. Amalgamated Bank now owns 51,467 shares of the company's stock worth $578,000 after buying an additional 1,506 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

Analysts Set New Price Targets

CRGY has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Mizuho cut their price target on shares of Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. 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, Wells Fargo & Company cut their price target on shares of Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $16.10.

Crescent Energy Price Performance

Shares of Crescent Energy stock traded down $0.30 during trading on Friday, hitting $8.94. 4,381,996 shares of the company's stock traded hands, compared to its average volume of 2,697,350. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm's fifty day moving average price is $9.01 and its 200 day moving average price is $10.63. Crescent Energy Company has a twelve month low of $6.83 and a twelve month high of $16.94. The company has a market cap of $2.28 billion, a PE ratio of 5.08 and a beta of 1.86.

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

Crescent Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.4%. Crescent Energy's payout ratio is currently -106.67%.

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.