Callahan Advisors LLC Purchases Shares of 54,938 Crescent Energy (NYSE:CRGY)

Callahan Advisors LLC purchased a new stake in Crescent Energy (NYSE:CRGY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 54,938 shares of the company’s stock, valued at approximately $602,000.

Several other large investors have also recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Crescent Energy by 618.9% during the 2nd quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after acquiring 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 worth $32,000. Farther Finance Advisors LLC lifted its holdings in shares of Crescent Energy by 15,675.0% during the 3rd 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 last quarter. Spirit of America Management Corp NY bought a new stake in shares of Crescent Energy during the 2nd quarter worth $36,000. Finally, Amalgamated Bank lifted its holdings in shares of Crescent Energy by 86.4% during the 3rd 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 owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. 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 research report on Tuesday. Evercore ISI reiterated an “outperform” rating and issued a $17.00 target price on shares of Crescent Energy in a research report on Tuesday, September 24th. Truist Financial decreased their target price on shares of Crescent Energy from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Pickering Energy Partners assumed coverage on shares of Crescent Energy in a research report on Monday, October 28th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Crescent Energy in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.80.

Crescent Energy Price Performance

CRGY stock opened at $12.96 on Wednesday. The firm’s 50-day moving average price is $11.86 and its two-hundred day moving average price is $11.78. Crescent Energy has a 12-month low of $9.88 and a 12-month high of $13.85. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 647.50 and a beta of 2.19. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

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 firm had revenue of $744.87 million for the quarter, compared to analyst estimates of $793.88 million. Crescent Energy had a net margin of 0.61% and a return on equity of 13.41%. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, equities analysts predict that Crescent Energy will post 1.11 earnings per share for the current year.

Insider Activity

In related news, Director Michael Duginski bought 9,344 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $10.62 per share, with a total value of $99,233.28. Following the purchase, the director now owns 201,081 shares of the company’s stock, valued at approximately $2,135,480.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 12,294 shares of company stock valued at $131,297. Corporate insiders own 13.20% of the company’s stock.

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.