Mraz Amerine & Associates Inc. Raises Stock Holdings in Crescent Energy Company $CRGY

Key Points

• Mraz Amerine & Associates Inc. increased its holdings in Crescent Energy Company by 21.4% during the second quarter, owning approximately 201,424 shares valued at $1.73 million.
• Several institutional investors have made significant changes to their positions, with GAMMA Investing LLC raising its stake by 458.8% in the first quarter.
• Crescent Energy recently announced a quarterly dividend of $0.12 per share, representing a 5.2% yield with a payout ratio of -266.67%.

Mraz Amerine & Associates Inc. raised its stake in Crescent Energy Company (NYSE:CRGY - Free Report) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,424 shares of the company's stock after buying an additional 35,556 shares during the quarter. Mraz Amerine & Associates Inc. owned about 0.08% of Crescent Energy worth $1,732,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Crescent Energy by 458.8% in the 1st quarter. GAMMA Investing LLC now owns 27,819 shares of the company's stock worth $313,000 after acquiring an additional 22,841 shares during the last quarter. Rhumbline Advisers increased its holdings in Crescent Energy by 3.0% in the 1st quarter. Rhumbline Advisers now owns 500,087 shares of the company's stock valued at $5,621,000 after purchasing an additional 14,612 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Crescent Energy by 22.7% in the first quarter. Harbor Capital Advisors Inc. now owns 46,427 shares of the company's stock valued at $522,000 after purchasing an additional 8,596 shares during the period. Yousif Capital Management LLC lifted its stake in Crescent Energy by 2.1% during the first quarter. Yousif Capital Management LLC now owns 66,806 shares of the company's stock worth $751,000 after purchasing an additional 1,382 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Crescent Energy by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 101,342 shares of the company's stock worth $1,139,000 after purchasing an additional 2,082 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRGY has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Piper Sandler boosted their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. William Blair started coverage on shares of Crescent Energy in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Crescent Energy in a report on Saturday, September 27th. Finally, Zacks Research downgraded shares of Crescent Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and an average price target of $15.67.

Crescent Energy Stock Performance

Shares of Crescent Energy stock opened at $9.16 on Tuesday. The business has a 50-day simple moving average of $9.14 and a 200-day simple moving average of $9.02. 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 Company has a one year low of $6.83 and a one year high of $16.94. The company has a market cap of $2.33 billion, a PE ratio of -50.89 and a beta of 1.89.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.43 earnings per share 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 firm had revenue of $897.98 million for the quarter, compared to analysts' expectations of $868.34 million. On average, equities research analysts forecast that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given 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 of this dividend was Monday, August 18th. Crescent Energy's payout ratio is -266.67%.

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.

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