EntryPoint Capital LLC Takes $646,000 Position in Crescent Energy Company $CRGY

Key Points

• EntryPoint Capital LLC has acquired a new position in Crescent Energy, purchasing 57,436 shares valued at about $646,000 during the first quarter.
• Crescent Energy reported an EPS of $0.43 for the most recent quarter, surpassing analysts' expectations of $0.23, and achieved revenues of $897.98 million.
• The company recently declared a quarterly dividend of $0.12 per share, with a 5.2% annualized dividend yield, to be paid on September 2nd.

EntryPoint Capital LLC bought a new position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 57,436 shares of the company's stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRGY. Brooklyn Investment Group grew its position in Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company's stock worth $28,000 after buying an additional 2,254 shares during the last quarter. Allworth Financial LP purchased a new position in Crescent Energy during the 1st quarter worth approximately $34,000. Public Employees Retirement System of Ohio grew its position in Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company's stock worth $40,000 after purchasing an additional 705 shares in the last quarter. Quarry LP grew its position in Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company's stock worth $64,000 after purchasing an additional 3,155 shares in the last quarter. Finally, KBC Group NV purchased a new position in Crescent Energy during the 1st quarter worth approximately $117,000. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Down 1.2%

Crescent Energy stock opened at $9.2110 on Wednesday. The company's fifty day simple moving average is $9.13 and its 200-day simple moving average is $9.97. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. Crescent Energy Company has a 12 month low of $6.83 and a 12 month high of $16.94. The stock has a market cap of $2.35 billion, a P/E ratio of -51.17 and a beta of 1.86.

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

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, August 18th. Crescent Energy's dividend payout ratio is -266.67%.

Wall Street Analyst Weigh In

CRGY has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler lifted their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Wells Fargo & Company lowered their price objective 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. Finally, Mizuho lowered their price objective 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 analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.10.

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.

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