Raymond James Financial Services Advisors Inc. Purchases Shares of 10,504 Crescent Energy (NYSE:CRGY)

Raymond James Financial Services Advisors Inc. purchased a new stake in Crescent Energy (NYSE:CRGY) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 10,504 shares of the company’s stock, valued at approximately $139,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ziegler Capital Management LLC increased its holdings in shares of Crescent Energy by 5.6% during the fourth quarter. Ziegler Capital Management LLC now owns 51,278 shares of the company’s stock valued at $677,000 after acquiring an additional 2,734 shares in the last quarter. Vanguard Group Inc. grew its position in Crescent Energy by 94.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,641,227 shares of the company’s stock valued at $96,585,000 after purchasing an additional 3,705,389 shares during the period. American Century Companies Inc. raised its holdings in Crescent Energy by 44.3% during the third quarter. American Century Companies Inc. now owns 480,692 shares of the company’s stock worth $6,076,000 after buying an additional 147,546 shares during the last quarter. Graham Capital Management L.P. grew its holdings in shares of Crescent Energy by 53.2% during the third quarter. Graham Capital Management L.P. now owns 77,735 shares of the company’s stock valued at $983,000 after buying an additional 27,010 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Crescent Energy during the third quarter valued at about $6,320,000. 52.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho reiterated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a report on Wednesday, February 14th. Truist Financial reduced their price objective on shares of Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, April 5th. Tudor, Pickering, Holt & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Raymond James reduced their price objective on shares of Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Crescent Energy currently has a consensus rating of “Buy” and a consensus target price of $16.38.

Crescent Energy Stock Down 0.3 %

CRGY opened at $10.74 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average is $11.29 and its 200 day moving average is $11.55. Crescent Energy has a fifty-two week low of $9.17 and a fifty-two week high of $14.22. The firm has a market capitalization of $1.93 billion, a P/E ratio of 8.33 and a beta of 2.24.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.37. The company had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. Crescent Energy had a net margin of 2.84% and a return on equity of 13.30%. Research analysts expect that Crescent Energy will post 0.99 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy’s dividend payout ratio is 37.21%.

Insiders Place Their Bets

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of Crescent Energy stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 13.20% of the company’s stock.

Crescent Energy Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.