Everence Capital Management Inc. Purchases Shares of 21,360 Crescent Energy (NYSE:CRGY)

Everence Capital Management Inc. purchased a new stake in Crescent Energy (NYSE:CRGY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 21,360 shares of the company’s stock, valued at approximately $312,000.

Several other large investors have also recently made changes to their positions in CRGY. American Century Companies Inc. boosted its stake in shares of Crescent Energy by 444.8% in the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock valued at $92,145,000 after purchasing an additional 6,348,598 shares during the period. State Street Corp lifted its holdings in Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company’s stock worth $74,285,000 after buying an additional 2,986,468 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Crescent Energy by 0.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock worth $40,501,000 after buying an additional 33,626 shares in the last quarter. Geode Capital Management LLC boosted its position in Crescent Energy by 53.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,354,700 shares of the company’s stock valued at $36,741,000 after buying an additional 1,164,306 shares during the period. Finally, Segall Bryant & Hamill LLC grew its stake in shares of Crescent Energy by 48.4% in the third quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company’s stock worth $33,643,000 after acquiring an additional 1,001,552 shares in the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Raymond James increased their price objective on Crescent Energy from $19.00 to $20.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Evercore ISI reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Crescent Energy in a research report on Tuesday, September 24th. Stephens boosted their price objective on Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Truist Financial upped their target price on shares of Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Crescent Energy currently has a consensus rating of “Buy” and a consensus target price of $16.80.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $15.33 on Tuesday. Crescent Energy has a 12 month low of $9.88 and a 12 month high of $15.54. The firm has a market capitalization of $3.50 billion, a P/E ratio of 24.73 and a beta of 2.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $14.08 and its 200 day moving average price is $12.56.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. The business 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 firm earned $0.35 earnings per share. As a group, sell-side analysts predict that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.12 per share. The ex-dividend date was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.13%. Crescent Energy’s dividend payout ratio (DPR) is presently 77.42%.

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.