Phocas Financial Corp. Invests $3.40 Million in Crescent Energy (NYSE:CRGY)

Phocas Financial Corp. purchased a new stake in shares of Crescent Energy (NYSE:CRGY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 310,539 shares of the company’s stock, valued at approximately $3,400,000.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Crescent Energy in the first quarter valued at $210,000. Swiss National Bank lifted its stake in Crescent Energy by 19.3% in the first quarter. Swiss National Bank now owns 183,980 shares of the company’s stock worth $2,189,000 after purchasing an additional 29,800 shares during the last quarter. Sei Investments Co. boosted its position in shares of Crescent Energy by 14.9% during the first quarter. Sei Investments Co. now owns 43,470 shares of the company’s stock valued at $517,000 after buying an additional 5,624 shares during the period. ProShare Advisors LLC grew its stake in shares of Crescent Energy by 8.5% during the first quarter. ProShare Advisors LLC now owns 13,856 shares of the company’s stock valued at $165,000 after buying an additional 1,085 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Crescent Energy by 13.9% in the first quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after buying an additional 1,137,367 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI reiterated an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a research note on Tuesday, September 24th. Stephens raised their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Pickering Energy Partners initiated coverage on shares of Crescent Energy in a research report on Monday, October 28th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company lowered their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Two equities research 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Crescent Energy Trading Up 3.4 %

Shares of NYSE:CRGY opened at $14.11 on Tuesday. The business’s 50-day moving average is $12.32 and its 200 day moving average is $11.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Crescent Energy has a 1 year low of $9.88 and a 1 year high of $14.24. The firm has a market capitalization of $3.22 billion, a P/E ratio of 22.76 and a beta of 2.19.

Crescent Energy (NYSE:CRGY) last released 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 company had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period last year, the business earned $0.35 EPS. On average, research analysts predict that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.40%. Crescent Energy’s payout ratio 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.