Focus Partners Advisor Solutions LLC Takes $97,000 Position in Crescent Energy Company $CRGY

Focus Partners Advisor Solutions LLC acquired a new position in Crescent Energy Company (NYSE:CRGY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,213 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Yousif Capital Management LLC raised its holdings in Crescent Energy by 1.6% in the 2nd quarter. Yousif Capital Management LLC now owns 67,901 shares of the company’s stock worth $584,000 after acquiring an additional 1,095 shares during the period. AQR Capital Management LLC grew its position in shares of Crescent Energy by 8.9% in the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares during the last quarter. Amalgamated Bank increased its stake in shares of Crescent Energy by 3.0% in the first quarter. Amalgamated Bank now owns 51,467 shares of the company’s stock worth $578,000 after purchasing an additional 1,506 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Crescent Energy by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 86,100 shares of the company’s stock worth $968,000 after purchasing an additional 1,700 shares during the period. Finally, New York State Teachers Retirement System lifted its position in shares of Crescent Energy by 2.9% during the 2nd quarter. New York State Teachers Retirement System now owns 63,161 shares of the company’s stock worth $543,000 after purchasing an additional 1,800 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 $8.42 on Friday. The company has a 50-day moving average of $8.79 and a 200-day moving average of $8.89. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -46.75 and a beta of 1.89. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. Crescent Energy had a net margin of 0.67% and a return on equity of 13.35%. The business had revenue of $897.98 million for the quarter, compared to analysts’ expectations of $868.34 million. As a group, equities research analysts anticipate that Crescent Energy Company will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Monday, August 18th. Crescent Energy’s dividend payout ratio is currently -266.67%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRGY. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Wall Street Zen raised Crescent Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Raymond James Financial set a $17.00 target price on shares of Crescent Energy and gave the stock a “strong-buy” rating in a research report on Wednesday, August 27th. William Blair initiated coverage on shares of Crescent Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Finally, Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Crescent Energy presently has an average rating of “Moderate Buy” and an average target price of $15.22.

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.