J.W. Cole Advisors Inc. Purchases New Holdings in Crescent Energy (NYSE:CRGY)

J.W. Cole Advisors Inc. acquired a new position in shares of Crescent Energy (NYSE:CRGY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,307 shares of the company’s stock, valued at approximately $136,000.

A number of other institutional investors have also recently modified their holdings of CRGY. Magnolia Capital Advisors LLC raised its stake in Crescent Energy by 0.8% in the third quarter. Magnolia Capital Advisors LLC now owns 125,509 shares of the company’s stock valued at $1,550,000 after purchasing an additional 982 shares in the last quarter. Ziegler Capital Management LLC increased its stake in Crescent Energy by 5.6% in 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 during the last quarter. Arizona State Retirement System raised its position in Crescent Energy by 26.5% during the fourth quarter. Arizona State Retirement System now owns 21,879 shares of the company’s stock valued at $289,000 after purchasing an additional 4,577 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its stake in Crescent Energy by 5.9% during the third quarter. Mraz Amerine & Associates Inc. now owns 144,633 shares of the company’s stock worth $1,828,000 after purchasing an additional 8,069 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Crescent Energy by 134.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,097 shares of the company’s stock valued at $178,000 after purchasing an additional 8,092 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Price Performance

CRGY stock opened at $10.83 on Friday. The company has a market capitalization of $1.94 billion, a P/E ratio of 8.39 and a beta of 2.24. Crescent Energy has a 52-week low of $9.17 and a 52-week high of $14.22. The business has a 50-day simple moving average of $11.28 and a two-hundred day simple moving average of $11.54. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.82.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, March 4th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.37. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. The business had revenue of $657.73 million during the quarter, compared to analyst estimates of $584.12 million. Research analysts expect that Crescent Energy will post 1.28 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, March 14th. Crescent Energy’s payout ratio is 37.21%.

Wall Street Analysts Forecast Growth

CRGY has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Mizuho reaffirmed a “neutral” rating and set a $13.00 price target (down from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. Tudor, Pickering, Holt & Co. initiated coverage on shares of Crescent Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $18.00 price objective for the company. TheStreet raised shares of Crescent Energy from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Finally, Raymond James dropped their price target on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. One 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. Based on data from MarketBeat.com, Crescent Energy currently has an average rating of “Buy” and a consensus target price of $16.38.

Insider Activity at Crescent Energy

In other Crescent Energy news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.20% of the stock is currently owned by company insiders.

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.