Crescent Energy Company (NYSE:CRGY) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its holdings in shares of Crescent Energy Company (NYSE:CRGY - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,067,158 shares of the company's stock after selling 143,749 shares during the quarter. Segall Bryant & Hamill LLC owned 1.19% of Crescent Energy worth $34,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CRGY. Allworth Financial LP acquired a new stake in Crescent Energy during the 1st quarter worth about $34,000. Public Employees Retirement System of Ohio raised its stake in shares of Crescent Energy by 35.3% in the fourth 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 during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Crescent Energy by 206.7% during the fourth quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company's stock worth $52,000 after purchasing an additional 2,377 shares during the period. Quarry LP boosted its position in Crescent Energy by 263.4% in the fourth quarter. Quarry LP now owns 4,353 shares of the company's stock valued at $64,000 after buying an additional 3,155 shares during the last quarter. Finally, KBC Group NV acquired a new position in Crescent Energy in the 1st quarter worth approximately $117,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Crescent Energy Price Performance

Shares of NYSE:CRGY traded up $0.20 during midday trading on Thursday, reaching $8.43. 2,600,749 shares of the company's stock traded hands, compared to its average volume of 3,451,865. The company has a market cap of $2.15 billion, a P/E ratio of -18.72 and a beta of 1.74. The company has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $11.11. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.78 and a current ratio of 0.78. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. The business had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Equities analysts predict that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.70%. Crescent Energy's dividend payout ratio is presently -106.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James Financial restated a "strong-buy" rating and set a $18.00 price objective (down from $23.00) on shares of Crescent Energy in a research note on Friday, March 28th. Piper Sandler upped their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Thursday. KeyCorp cut their price target on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company decreased their price objective on Crescent Energy from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Finally, Mizuho dropped their target price on Crescent Energy from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.09.

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.