Segall Bryant & Hamill LLC Trims Stock Position in Crescent Energy Company $CRGY

Segall Bryant & Hamill LLC lessened its position in shares of Crescent Energy Company (NYSE:CRGYFree Report) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,594,152 shares of the company’s stock after selling 186,620 shares during the period. Segall Bryant & Hamill LLC’s holdings in Crescent Energy were worth $35,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Western Wealth Management LLC boosted its holdings in Crescent Energy by 32.2% in the 1st quarter. Western Wealth Management LLC now owns 44,355 shares of the company’s stock valued at $599,000 after purchasing an additional 10,807 shares during the period. Bank of America Corp DE grew its position in shares of Crescent Energy by 308.2% during the 1st quarter. Bank of America Corp DE now owns 3,056,820 shares of the company’s stock valued at $41,267,000 after purchasing an additional 2,307,971 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Crescent Energy by 0.7% in the first quarter. Sunbelt Securities Inc. now owns 151,416 shares of the company’s stock worth $2,044,000 after purchasing an additional 1,073 shares during the period. Amundi bought a new position in shares of Crescent Energy in the first quarter worth $219,000. Finally, California State Teachers Retirement System raised its position in shares of Crescent Energy by 24.5% in the first quarter. California State Teachers Retirement System now owns 289,558 shares of the company’s stock worth $3,909,000 after buying an additional 57,064 shares in the last quarter. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $11.45 on Friday. The company’s fifty day moving average price is $10.81 and its 200-day moving average price is $11.28. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -15.26 and a beta of 1.40. Crescent Energy Company has a one year low of $7.68 and a one year high of $14.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57.

Crescent Energy (NYSE:CRGYGet Free Report) last posted its quarterly earnings data 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. Crescent Energy had a negative net margin of 7.47% and a positive return on equity of 8.10%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities research analysts anticipate that Crescent Energy Company will post 1.78 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s dividend payout ratio is currently -64.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CRGY shares. Wells Fargo & Company lifted their price objective on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. UBS Group began coverage on Crescent Energy in a research note on Tuesday, July 14th. They issued a “buy” rating and a $13.00 target price on the stock. Zacks Research cut Crescent Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Stephens reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Crescent Energy in a report on Tuesday, May 5th. Finally, KeyCorp reiterated an “overweight” rating and set a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.58.

Check Out Our Latest Stock Report on CRGY

Crescent Energy Company 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.

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

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