Crescent Energy (NYSE:CRGY) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its position in shares of Crescent Energy (NYSE:CRGY) by 22.9% in the third quarter, HoldingsChannel.com reports. The firm owned 47,328 shares of the company’s stock after selling 14,031 shares during the period. Stifel Financial Corp’s holdings in Crescent Energy were worth $518,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Crescent Energy by 444.8% during the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock valued at $92,145,000 after buying an additional 6,348,598 shares in the last quarter. Marshall Wace LLP lifted its holdings in Crescent Energy by 286.7% in the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after acquiring an additional 2,098,303 shares during the last quarter. Riposte Capital LLC bought a new position in shares of Crescent Energy during the 3rd quarter valued at about $18,232,000. Kore Advisors LP acquired a new position in shares of Crescent Energy in the 3rd quarter worth approximately $14,652,000. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Crescent Energy by 77.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,029,818 shares of the company’s stock worth $33,177,000 after purchasing an additional 1,324,328 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRGY shares. Raymond James raised their target price on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Evercore ISI reissued an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Tuesday, September 24th. Mizuho boosted their target price on Crescent Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Truist Financial increased their price target on Crescent Energy from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Pickering Energy Partners assumed coverage on Crescent Energy in a report on Monday, October 28th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Crescent Energy currently has a consensus rating of “Buy” and a consensus price target of $16.80.

Crescent Energy Stock Performance

Shares of CRGY stock opened at $13.84 on Friday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 22.32 and a beta of 2.17. Crescent Energy has a 1-year low of $9.88 and a 1-year high of $15.54. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $13.76 and its 200-day simple moving average is $12.42.

Crescent Energy (NYSE:CRGY) last released its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million for the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the previous year, the business posted $0.35 EPS. On average, sell-side analysts predict that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $0.12 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.47%. Crescent Energy’s dividend payout ratio is presently 77.42%.

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.