Janney Montgomery Scott LLC Lowers Stock Holdings in Crescent Energy Company $CRGY

Janney Montgomery Scott LLC lowered its holdings in Crescent Energy Company (NYSE:CRGY) by 31.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,875 shares of the company’s stock after selling 99,679 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Crescent Energy worth $2,928,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Crescent Energy by 34.6% in the 4th quarter. Vanguard Group Inc. now owns 27,292,081 shares of the company’s stock valued at $228,981,000 after purchasing an additional 7,015,982 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Crescent Energy by 775.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock valued at $27,714,000 after acquiring an additional 2,925,780 shares during the period. State Street Corp raised its position in Crescent Energy by 27.6% in the 4th quarter. State Street Corp now owns 12,808,605 shares of the company’s stock valued at $107,464,000 after purchasing an additional 2,767,096 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Crescent Energy by 77.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,105,558 shares of the company’s stock valued at $42,836,000 after acquiring an additional 2,234,324 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Crescent Energy by 20.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,872,215 shares of the company’s stock worth $107,999,000 after acquiring an additional 2,213,352 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Up 3.1%

Shares of CRGY opened at $9.43 on Wednesday. Crescent Energy Company has a twelve month low of $7.68 and a twelve month high of $14.29. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $3.11 billion, a P/E ratio of -12.57 and a beta of 1.40. The firm’s 50-day moving average is $11.71 and its two-hundred day moving average is $11.01.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.39 by $0.14. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. On average, research analysts predict that Crescent Energy Company will post 1.98 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. Shareholders of record on Monday, May 18th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Monday, May 18th. Crescent Energy’s payout ratio is presently -64.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Crescent Energy in a report on Thursday, June 11th. Johnson Rice restated an “accumulate” rating and issued a $19.00 price objective on shares of Crescent Energy in a research report on Wednesday, March 25th. Mizuho lifted their price objective on Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Stephens reiterated an “overweight” rating and set a $18.00 target price on shares of Crescent Energy in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a research note on Friday, March 20th. One research analyst has 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.82.

About Crescent Energy

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.