Amalgamated Bank Acquires 1,506 Shares of Crescent Energy Company (NYSE:CRGY)

Amalgamated Bank increased its holdings in shares of Crescent Energy Company (NYSE:CRGY) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,467 shares of the company’s stock after acquiring an additional 1,506 shares during the period. Amalgamated Bank’s holdings in Crescent Energy were worth $578,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 4,332,831 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in Crescent Energy in the fourth quarter worth approximately $36,593,000. Adage Capital Partners GP L.L.C. boosted its holdings in Crescent Energy by 6,700.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,700,000 shares of the company’s stock worth $24,837,000 after purchasing an additional 1,675,000 shares during the last quarter. Covalis Capital LLP purchased a new stake in Crescent Energy in the fourth quarter worth approximately $23,376,000. Finally, American Century Companies Inc. boosted its holdings in Crescent Energy by 12.7% in the fourth quarter. American Century Companies Inc. now owns 12,700,925 shares of the company’s stock worth $185,561,000 after purchasing an additional 1,436,084 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

Crescent Energy Price Performance

Crescent Energy stock opened at $9.30 on Friday. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -20.67 and a beta of 1.74. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.78 and a quick ratio of 0.78. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $16.94. The firm has a 50-day moving average of $8.95 and a two-hundred day moving average of $11.25.

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 the consensus estimate of $0.47 by $0.09. The company had revenue of $950.17 million during the quarter, compared to analysts’ expectations of $937.55 million. Crescent Energy had a negative net margin of 2.88% and a positive return on equity of 14.21%. On average, research analysts forecast that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.48 annualized dividend and a yield of 5.16%. Crescent Energy’s dividend payout ratio (DPR) is -106.67%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRGY. Wells Fargo & Company decreased their price target on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 16th. KeyCorp decreased their price target 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. Piper Sandler began coverage on shares of Crescent Energy in a research report on Monday, June 9th. They issued an “overweight” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. decreased their price target 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. Finally, Mizuho decreased their price target on shares of Crescent Energy from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.