Dana Investment Advisors Inc. Buys New Shares in Crescent Energy Company $CRGY

Dana Investment Advisors Inc. bought a new stake in Crescent Energy Company (NYSE:CRGYFree Report) in the fourth quarter, HoldingsChannel reports. The fund bought 711,272 shares of the company’s stock, valued at approximately $5,968,000.

Other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC purchased a new stake in Crescent Energy in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC grew its holdings in Crescent Energy by 50.2% in the third quarter. Nisa Investment Advisors LLC now owns 3,714 shares of the company’s stock valued at $33,000 after purchasing an additional 1,241 shares during the period. Fifth Third Bancorp grew its holdings in Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after purchasing an additional 2,039 shares during the period. Quarry LP grew its holdings in Crescent Energy by 303.5% in the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after purchasing an additional 3,123 shares during the period. Finally, Allworth Financial LP grew its stake in Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after buying an additional 1,401 shares during the period. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRGY shares. Wells Fargo & Company boosted their price objective on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price objective on shares of Crescent Energy in a research note on Sunday, January 25th. KeyCorp boosted their price objective on shares of Crescent Energy from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price objective for the company in a research note on Friday, March 20th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.73.

View Our Latest Stock Report on Crescent Energy

Crescent Energy Price Performance

CRGY opened at $13.03 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.12. Crescent Energy Company has a 52-week low of $7.68 and a 52-week high of $14.29. The company has a 50 day moving average of $12.70 and a two-hundred day moving average of $10.41. The company has a market cap of $4.30 billion, a P/E ratio of -17.37 and a beta of 1.44.

Crescent Energy (NYSE:CRGYGet Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, analysts expect that Crescent Energy Company will post 1.84 earnings per share for the current year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $0.12 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. Crescent Energy’s dividend payout ratio is -64.00%.

Crescent Energy Profile

(Free Report)

Crescent Energy Co (NYSE: CRGY) is an independent exploration and production company focused on the acquisition, development and production of oil and natural gas resources in North America. Headquartered in Oklahoma City, the company’s core business activities include the identification and appraisal of prospective acreage, the design and execution of drilling and completion programs, and the ongoing operation and optimization of producing wells. Crescent Energy’s integrated approach emphasizes capital efficiency, reservoir quality and operational reliability to support sustainable cash flow generation over the commodity cycle.

Crescent Energy’s operations are concentrated in the Permian Basin, with a particular focus on the Delaware Basin’s stacked pay intervals.

See Also

Want to see what other hedge funds are holding CRGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crescent Energy Company (NYSE:CRGYFree Report).

Institutional Ownership by Quarter for Crescent Energy (NYSE:CRGY)

Receive News & Ratings for Crescent Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crescent Energy and related companies with MarketBeat.com's FREE daily email newsletter.