Corient Private Wealth LP Purchases 205,423 Shares of Crescent Energy Company $CRGY

Key Points

• Corient Private Wealth increased its Crescent Energy position by 856.5% in the second quarter, purchasing 205,423 shares and bringing its total holdings to 229,407 shares valued at approximately $2.25 million. Institutional investors collectively own 52.11% of the company.
• Crescent Energy reported quarterly earnings of $0.69 per share, exceeding the $0.59 consensus estimate, while revenue rose 55.3% year over year to $1.39 billion. The company also maintains a $0.12 quarterly dividend, representing a 3.7% annualized yield.
• Analysts remain generally optimistic, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $17.08, versus shares trading near $13.00. Recent price targets include $19 from Wells Fargo, KeyCorp and Truist Financial.

Corient Private Wealth LP raised its position in Crescent Energy Company (NYSE:CRGY - Free Report) by 856.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,407 shares of the company's stock after buying an additional 205,423 shares during the quarter. Corient Private Wealth LP owned 0.07% of Crescent Energy worth $2,253,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CRGY. Sunbelt Securities Inc. raised its position in shares of Crescent Energy by 0.7% in the first quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company's stock valued at $2,044,000 after buying an additional 1,073 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Crescent Energy by 2.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company's stock valued at $526,000 after acquiring an additional 1,245 shares in the last quarter. Allworth Financial LP raised its holdings in Crescent Energy by 42.3% in the 4th quarter. Allworth Financial LP now owns 4,712 shares of the company's stock valued at $40,000 after acquiring an additional 1,401 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Crescent Energy by 4.5% in the first quarter. Pictet Asset Management Holding SA now owns 38,292 shares of the company's stock valued at $517,000 after purchasing an additional 1,638 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Crescent Energy by 2.2% in the first quarter. New York State Teachers Retirement System now owns 93,087 shares of the company's stock valued at $1,257,000 after purchasing an additional 2,009 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 2.0%

Shares of NYSE CRGY opened at $13.00 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $15.47. The firm has a 50 day moving average price of $12.67 and a two-hundred day moving average price of $12.21. The stock has a market cap of $4.29 billion, a P/E ratio of -259.93 and a beta of 1.45.

Crescent Energy (NYSE:CRGY - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%.Crescent Energy's revenue was up 55.3% compared to the same quarter last year. As a group, equities analysts forecast that Crescent Energy Company will post 2.17 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were issued a $0.12 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.48 annualized dividend and a yield of 3.7%. Crescent Energy's dividend payout ratio is presently -960.00%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRGY shares. Wells Fargo & Company lowered their price objective on shares of Crescent Energy from $24.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Crescent Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings raised Crescent Energy from a "sell (d)" rating to a "hold (c)" rating in a report on Monday, August 17th. KeyCorp restated an "overweight" rating and set a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th. Finally, Truist Financial assumed coverage on Crescent Energy in a research note on Thursday, September 17th. They issued a "buy" rating and a $19.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.08.

Crescent Energy Company Profile

Crescent Energy Company NYSE: CRGY is an independent energy company engaged in the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include drilling, production, field operations and the management of onshore energy assets.

The company maintains a portfolio of producing and development properties in several U.S. regions, including the Eagle Ford, Uinta and Rocky Mountain areas. Its operations are focused primarily on crude oil, natural gas and natural gas liquids, with an emphasis on acquiring established assets and improving their production and operating performance.

Crescent Energy was formed in 2021 through the combination of Crescent Energy and Independence Energy, bringing together portfolios backed by private-equity investment.

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