Citigroup Inc. Has $6.53 Million Stock Holdings in Crescent Energy Company $CRGY

Key Points

• Citigroup Inc. increased its stake in Crescent Energy Company by 88.8%, now owning 581,062 shares valued at approximately $6.53 million.
• The company reported a quarterly earnings per share of $0.43, beating estimates and showing a revenue of $897.98 million.
• Crescent Energy announced a quarterly dividend of $0.12 per share, equating to an annual yield of 5.1%, with an ex-dividend date on August 18th.

Citigroup Inc. increased its stake in Crescent Energy Company (NYSE:CRGY - Free Report) by 88.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 581,062 shares of the company's stock after acquiring an additional 273,361 shares during the quarter. Citigroup Inc. owned about 0.23% of Crescent Energy worth $6,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Crescent Energy by 326.2% during the 4th quarter. JPMorgan Chase & Co. now owns 268,844 shares of the company's stock valued at $3,928,000 after purchasing an additional 205,760 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Crescent Energy by 13.7% in the 4th quarter. Wells Fargo & Company MN now owns 211,574 shares of the company's stock valued at $3,091,000 after purchasing an additional 25,447 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Crescent Energy during the fourth quarter worth $187,000. Bank of Montreal Can raised its stake in Crescent Energy by 140.8% during the fourth quarter. Bank of Montreal Can now owns 32,949 shares of the company's stock worth $481,000 after buying an additional 19,265 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Crescent Energy by 117.7% during the fourth quarter. Invesco Ltd. now owns 1,384,228 shares of the company's stock worth $20,224,000 after buying an additional 748,299 shares during the last quarter. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Trading Down 2.4%

Shares of Crescent Energy stock opened at $9.42 on Monday. The stock has a market capitalization of $2.40 billion, a PE ratio of -52.33 and a beta of 1.86. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The stock has a 50 day moving average price of $9.13 and a two-hundred day moving average price of $10.02. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. The business had revenue of $897.98 million during the quarter, compared to the consensus estimate of $868.34 million. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. As a group, equities analysts anticipate that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio (DPR) is currently -266.67%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRGY shares. 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 research report on Monday, June 16th. Piper Sandler upped their target price on Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. KeyCorp decreased their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Mizuho dropped their price target on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of "Moderate Buy" and an average price target of $16.10.

Crescent Energy 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.

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