Cetera Investment Advisers Purchases 163,268 Shares of Crescent Energy Company $CRGY

Cetera Investment Advisers boosted its position in Crescent Energy Company (NYSE:CRGY) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,341,779 shares of the company’s stock after acquiring an additional 163,268 shares during the period. Cetera Investment Advisers owned 1.01% of Crescent Energy worth $45,114,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Crescent Energy by 16.1% in the first quarter. Royal Bank of Canada now owns 58,900 shares of the company’s stock valued at $662,000 after purchasing an additional 8,173 shares during the period. AQR Capital Management LLC grew its stake in Crescent Energy by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after buying an additional 1,397 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Crescent Energy by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,670 shares of the company’s stock valued at $1,109,000 after acquiring an additional 6,184 shares during the period. Goldman Sachs Group Inc. raised its holdings in Crescent Energy by 42.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after acquiring an additional 1,174,576 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Crescent Energy by 32.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,456 shares of the company’s stock worth $2,748,000 after acquiring an additional 59,199 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

Crescent Energy Price Performance

Shares of NYSE CRGY opened at $11.29 on Friday. The stock’s 50-day simple moving average is $11.06 and its two-hundred day simple moving average is $11.18. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $14.29. The firm has a market capitalization of $3.73 billion, a P/E ratio of -15.05 and a beta of 1.40. 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 (NYSE:CRGY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.14. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. As a group, equities analysts anticipate that Crescent Energy Company will post 1.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 4.3%. The ex-dividend date of this dividend was Monday, May 18th. Crescent Energy’s payout ratio is currently -64.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group assumed coverage on Crescent Energy in a research report on Tuesday, July 14th. They issued a “buy” rating and a $13.00 price target for the company. Wells Fargo & Company lifted their target price on Crescent Energy from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Crescent Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. KeyCorp restated an “overweight” rating and issued a $19.00 price objective on shares of Crescent Energy in a research report on Thursday, June 11th. Finally, Mizuho boosted their price objective on shares of Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Two investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.58.

Crescent Energy Company Profile

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.