FORA Capital LLC Makes New Investment in Crescent Energy (NYSE:CRGY)

FORA Capital LLC acquired a new stake in Crescent Energy (NYSE:CRGY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 69,724 shares of the company’s stock, valued at approximately $1,019,000.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Crescent Energy by 206.7% during the 4th quarter. Jones Financial Companies Lllp now owns 3,527 shares of the company’s stock valued at $52,000 after purchasing an additional 2,377 shares in the last quarter. Quarry LP boosted its stake in Crescent Energy by 263.4% during the fourth quarter. Quarry LP now owns 4,353 shares of the company’s stock valued at $64,000 after buying an additional 3,155 shares in the last quarter. GAMMA Investing LLC grew its holdings in Crescent Energy by 48.3% during the fourth quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after acquiring an additional 1,621 shares during the period. Toth Financial Advisory Corp bought a new stake in Crescent Energy in the fourth quarter worth about $131,000. Finally, Paloma Partners Management Co acquired a new stake in Crescent Energy in the 4th quarter valued at about $146,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Crescent Energy from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Williams Trading set a $16.00 price objective on Crescent Energy in a research report on Wednesday, March 5th. Mizuho raised their price objective on Crescent Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on Crescent Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Crescent Energy has an average rating of “Moderate Buy” and an average target price of $16.80.

Insider Buying and Selling at Crescent Energy

In other Crescent Energy news, Director Michael Duginski acquired 20,000 shares of Crescent Energy stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $10.57 per share, with a total value of $211,400.00. Following the purchase, the director now owns 259,607 shares in the company, valued at approximately $2,744,045.99. This trade represents a 8.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Energy Aggregator Independence sold 2,948,723 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.91, for a total transaction of $29,221,844.93. The disclosure for this sale can be found here. Insiders have bought 24,932 shares of company stock worth $263,219 over the last 90 days. 13.20% of the stock is currently owned by corporate insiders.

Crescent Energy Trading Up 2.5 %

NYSE:CRGY opened at $8.58 on Friday. The stock has a market cap of $2.22 billion, a PE ratio of 13.84 and a beta of 1.86. Crescent Energy has a fifty-two week low of $6.83 and a fifty-two week high of $16.94. 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 stock’s 50-day moving average is $9.42 and its two-hundred day moving average is $12.71.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings data on Monday, May 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The firm had revenue of $950.17 million for the quarter, compared to analyst estimates of $937.55 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. As a group, equities research analysts forecast that Crescent Energy will post 0.77 earnings per share for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, May 19th. This represents a $0.48 dividend on an annualized basis and a yield of 5.59%. Crescent Energy’s payout ratio is -69.57%.

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.