FORA Capital LLC Purchases New Position in Crescent Energy (NYSE:CRGY)

FORA Capital LLC purchased a new position in shares of Crescent Energy (NYSE:CRGY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 69,724 shares of the company's stock, valued at approximately $1,019,000.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Crescent Energy in the fourth quarter valued at approximately $1,811,000. SCP Investment LP purchased a new position in shares of Crescent Energy during the 4th quarter valued at $409,000. Clearbridge Investments LLC bought a new position in shares of Crescent Energy in the fourth quarter worth $9,869,000. Thrivent Financial for Lutherans bought a new position in shares of Crescent Energy in the fourth quarter worth $2,981,000. Finally, Vanguard Group Inc. raised its position in shares of Crescent Energy by 26.4% in the fourth quarter. Vanguard Group Inc. now owns 20,749,509 shares of the company's stock worth $303,150,000 after buying an additional 4,332,831 shares in the last quarter. Institutional investors own 52.11% of the company's stock.

Crescent Energy Trading Up 4.6%

Shares of NYSE:CRGY traded up $0.42 during midday trading on Tuesday, hitting $9.52. 4,618,267 shares of the stock traded hands, compared to its average volume of 3,370,546. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The business's 50 day moving average is $9.38 and its two-hundred day moving average is $12.69. The stock has a market capitalization of $2.43 billion, a PE ratio of 15.35 and a beta of 1.86. Crescent Energy has a one year low of $6.83 and a one year high of $16.94.

Crescent Energy (NYSE:CRGY - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The firm had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. As a group, research analysts forecast that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Monday, May 19th. Crescent Energy's payout ratio is currently -106.67%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRGY shares. Citigroup lowered Crescent Energy to a "reduce" rating in a research note on Wednesday, March 5th. Williams Trading set a $16.00 price target on shares of Crescent Energy in a report on Wednesday, March 5th. Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a report on Monday, March 3rd. KeyCorp reduced their target price on Crescent Energy from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Truist Financial raised their price target on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.30.

Insiders Place Their Bets

In other news, Director Michael Duginski purchased 4,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $10.38 per share, for a total transaction of $41,520.00. Following the completion of the transaction, the director now directly owns 233,607 shares of the company's stock, valued at $2,424,840.66. This trade represents a 1.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total value of $29,221,844.93. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 24,932 shares of company stock worth $263,219. 13.20% of the stock is currently owned by corporate insiders.

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.