Crescent Energy Company (NYSE:CRGY) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in Crescent Energy Company (NYSE:CRGY) by 38.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,096 shares of the company’s stock after selling 8,924 shares during the period. Janney Montgomery Scott LLC’s holdings in Crescent Energy were worth $158,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 valued at $303,150,000 after acquiring an additional 4,332,831 shares in the last quarter. American Century Companies Inc. raised its stake in Crescent Energy by 12.7% in the 4th quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock valued at $185,561,000 after purchasing an additional 1,436,084 shares during the last quarter. Woodline Partners LP lifted its holdings in Crescent Energy by 21.9% in the 4th quarter. Woodline Partners LP now owns 4,767,362 shares of the company’s stock valued at $69,651,000 after purchasing an additional 856,963 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Crescent Energy by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,933,622 shares of the company’s stock valued at $57,469,000 after purchasing an additional 129,804 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Crescent Energy by 13.8% during the 4th quarter. Geode Capital Management LLC now owns 3,818,765 shares of the company’s stock worth $55,806,000 after purchasing an additional 464,065 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Crescent Energy Price Performance

NYSE:CRGY opened at $9.13 on Monday. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The stock’s fifty day moving average is $8.90 and its two-hundred day moving average is $11.34. The company has a market capitalization of $2.33 billion, a P/E ratio of -20.29 and a beta of 1.74. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.10.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data 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. The firm had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. Equities analysts expect that Crescent Energy Company will post 0.77 EPS for the current year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.26%. Crescent Energy’s payout ratio is currently -106.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRGY shares. JPMorgan Chase & Co. reduced their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho cut their price objective on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. KeyCorp dropped their price target on Crescent Energy from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $18.00 price target (down previously from $23.00) on shares of Crescent Energy in a report on Friday, March 28th. Finally, Piper Sandler assumed coverage on Crescent Energy in a research note on Monday, June 9th. They set an “overweight” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.