Jefferies Financial Group Inc. Acquires New Position in Crescent Energy Company (NYSE:CRGY)

Key Points

• Jefferies Financial Group Inc. has made a new investment in Crescent Energy Company, purchasing 32,320 shares valued at approximately $363,000 during the first quarter.
• Crescent Energy recently announced a quarterly dividend of $0.12 per share, which is set to provide a 5.2% annual yield for shareholders.
• Several institutional investors have significantly increased their stakes in Crescent Energy, with Federated Hermes Inc. raising its stake by 212.6% to own 932,863 shares valued at $10.5 million.

Jefferies Financial Group Inc. purchased a new position in Crescent Energy Company (NYSE:CRGY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 32,320 shares of the company's stock, valued at approximately $363,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its stake in Crescent Energy by 50.5% during the first quarter. Natixis Advisors LLC now owns 21,791 shares of the company's stock worth $245,000 after buying an additional 7,314 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Crescent Energy in the 1st quarter valued at $661,000. Federated Hermes Inc. raised its holdings in shares of Crescent Energy by 212.6% in the 1st quarter. Federated Hermes Inc. now owns 932,863 shares of the company's stock valued at $10,485,000 after buying an additional 634,417 shares during the period. Mackenzie Financial Corp increased its holdings in Crescent Energy by 151.3% during the 1st quarter. Mackenzie Financial Corp now owns 26,068 shares of the company's stock worth $293,000 after purchasing an additional 15,696 shares during the period. Finally, Carrera Capital Advisors purchased a new stake in Crescent Energy during the 1st quarter worth about $995,000. Institutional investors and hedge funds own 52.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho lowered their price objective on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company decreased 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. KeyCorp decreased their price objective on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised Crescent Energy from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Piper Sandler increased their target price on Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.10.

Crescent Energy Price Performance

Crescent Energy stock traded up $0.01 during mid-day trading on Friday, hitting $9.21. 2,305,735 shares of the company were exchanged, compared to its average volume of 3,487,439. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.88 and a quick ratio of 0.78. The business's 50 day simple moving average is $9.07 and its two-hundred day simple moving average is $10.28. The company has a market capitalization of $2.35 billion, a P/E ratio of -51.18 and a beta of 1.86. Crescent Energy Company has a 12-month low of $6.83 and a 12-month high of $16.94.

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

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.12 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 5.2%. Crescent Energy's dividend payout ratio (DPR) is presently -266.67%.

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.