King Luther Capital Management Corp Trims Stock Holdings in Crescent Energy (NYSE:CRGY)

King Luther Capital Management Corp lowered its position in shares of Crescent Energy (NYSE:CRGY) by 50.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company’s stock after selling 500,000 shares during the quarter. King Luther Capital Management Corp’s holdings in Crescent Energy were worth $5,475,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Crescent Energy by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 9,308,793 shares of the company’s stock worth $110,775,000 after acquiring an additional 1,137,367 shares in the last quarter. American Century Companies Inc. grew its holdings in Crescent Energy by 444.8% in the second quarter. American Century Companies Inc. now owns 7,775,940 shares of the company’s stock worth $92,145,000 after purchasing an additional 6,348,598 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Crescent Energy by 48.4% during the third quarter. Segall Bryant & Hamill LLC now owns 3,072,410 shares of the company’s stock valued at $33,643,000 after purchasing an additional 1,001,552 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Crescent Energy by 286.7% during the second quarter. Marshall Wace LLP now owns 2,830,118 shares of the company’s stock valued at $33,537,000 after purchasing an additional 2,098,303 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Crescent Energy by 85.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock worth $31,477,000 after purchasing an additional 1,226,027 shares in the last quarter. Institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRGY shares. Wells Fargo & Company lowered their price objective on Crescent Energy from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Truist Financial lowered their price target on Crescent Energy from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Evercore ISI reissued an “outperform” rating and set a $17.00 price objective on shares of Crescent Energy in a research report on Tuesday, September 24th. Mizuho lifted their target price on shares of Crescent Energy from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, 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 on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.30.

Crescent Energy Stock Up 4.3 %

CRGY opened at $15.18 on Friday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 24.48 and a beta of 2.19. The firm has a 50 day moving average price of $12.58 and a 200-day moving average price of $12.05. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $15.53. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last announced its earnings results on Monday, November 4th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.11. The business had revenue of $744.87 million during the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same period in the previous year, the business earned $0.35 EPS. Equities research analysts forecast that Crescent Energy will post 0.97 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.12 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 3.16%. Crescent Energy’s 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.