Crescent Energy (NYSE:CRGY) Stock Holdings Decreased by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. decreased its stake in shares of Crescent Energy (NYSE:CRGY) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 108,700 shares of the company’s stock after selling 15,150 shares during the period. Heritage Wealth Management Inc. owned about 0.06% of Crescent Energy worth $1,190,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CWM LLC increased its stake in Crescent Energy by 618.9% during the second quarter. CWM LLC now owns 2,128 shares of the company’s stock valued at $25,000 after purchasing an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Crescent Energy during the 2nd quarter valued at about $32,000. Farther Finance Advisors LLC raised its stake in Crescent Energy by 15,675.0% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after acquiring an additional 3,135 shares during the period. Spirit of America Management Corp NY acquired a new stake in Crescent Energy during the second quarter worth about $36,000. Finally, Amalgamated Bank lifted its holdings in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares during the last quarter. 52.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRGY. Evercore ISI reaffirmed an “outperform” rating and set a $17.00 target price on shares of Crescent Energy in a report on Tuesday, September 24th. Wells Fargo & Company dropped their target price on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They set a “neutral” rating and a $12.00 price target for the company. Mizuho increased their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Truist Financial reduced their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Crescent Energy presently has a consensus rating of “Buy” and an average target price of $15.80.

Crescent Energy Trading Up 0.3 %

CRGY traded up $0.04 during trading on Friday, reaching $13.55. The company had a trading volume of 94,343 shares, compared to its average volume of 2,347,685. The firm’s 50-day simple moving average is $11.95 and its 200 day simple moving average is $11.82. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 21.80 and a beta of 2.19. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $13.85.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a net margin of 2.17% and a return on equity of 14.01%. The business had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts anticipate that Crescent Energy will post 1.11 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.54%. Crescent Energy’s dividend payout ratio is 77.42%.

Crescent Energy 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.