Rhumbline Advisers Boosts Holdings in Crescent Energy (NYSE:CRGY)

Rhumbline Advisers boosted its position in Crescent Energy (NYSE:CRGY) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,087 shares of the company’s stock after purchasing an additional 14,612 shares during the quarter. Rhumbline Advisers owned about 0.19% of Crescent Energy worth $5,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in shares of Crescent Energy by 35.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,704 shares of the company’s stock valued at $40,000 after buying an additional 705 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after buying an additional 2,377 shares in the last quarter. Quarry LP raised its position in shares of Crescent Energy by 263.4% during the 4th quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after buying an additional 3,155 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Crescent Energy during the 4th quarter valued at $146,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Crescent Energy by 619.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,385 shares of the company’s stock valued at $152,000 after buying an additional 8,942 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRGY has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Raymond James restated a “strong-buy” rating and set a $18.00 price objective (down previously from $23.00) on shares of Crescent Energy in a research report on Friday, March 28th. KeyCorp lowered their price objective on shares of 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 lowered their price objective on shares of Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.09.

Crescent Energy Price Performance

CRGY stock opened at $9.52 on Friday. The firm’s 50-day moving average price is $8.55 and its two-hundred day moving average price is $11.96. Crescent Energy has a 12-month low of $6.83 and a 12-month high of $16.94. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.35 and a beta of 1.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. The firm had revenue of $950.17 million for the quarter, compared to analysts’ expectations of $937.55 million. As a group, equities analysts predict that Crescent Energy will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend was Monday, May 19th. Crescent Energy’s payout ratio is -106.67%.

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.