Crescent Energy (NYSE:CRGY) Stock Holdings Cut by Pingora Partners LLC

Pingora Partners LLC reduced its holdings in Crescent Energy (NYSE:CRGY) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,263,389 shares of the company’s stock after selling 39,481 shares during the period. Crescent Energy makes up 9.8% of Pingora Partners LLC’s portfolio, making the stock its 2nd largest holding. Pingora Partners LLC owned approximately 0.71% of Crescent Energy worth $13,834,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in Crescent Energy by 444.8% during the 2nd 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 during the period. The Manufacturers Life Insurance Company raised its stake in shares of Crescent Energy by 0.9% in the third quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company’s stock valued at $40,501,000 after acquiring an additional 33,626 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Crescent Energy by 48.4% in the 3rd 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 during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Crescent Energy by 77.7% during 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 during the period. Finally, Marshall Wace LLP grew its holdings in Crescent Energy by 286.7% during the 2nd quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after purchasing an additional 2,098,303 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRGY shares. Pickering Energy Partners began coverage on shares of Crescent Energy in a research note on Monday, October 28th. They issued an “outperform” rating for the company. Wells Fargo & Company decreased their price target on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Truist Financial cut their price objective on Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Evercore ISI reiterated an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, September 24th. Finally, Stephens upped their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Two 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 stock. Based on data from MarketBeat.com, Crescent Energy has a consensus rating of “Buy” and a consensus target price of $16.30.

Crescent Energy Price Performance

Shares of CRGY opened at $15.15 on Wednesday. The stock has a market capitalization of $3.46 billion, a PE ratio of 24.43 and a beta of 2.17. The company has a 50 day moving average price of $13.18 and a 200-day moving average price of $12.22. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $15.54.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, November 4th. The company reported $0.39 earnings per share (EPS) 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 analyst estimates 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. Equities analysts predict that Crescent Energy will post 0.97 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.17%. Crescent Energy’s payout ratio is 77.42%.

About Crescent Energy

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.