McAlvany Wealth Management LLC Makes New $1.13 Million Investment in Crescent Energy Company $CRGY

McAlvany Wealth Management LLC acquired a new stake in Crescent Energy Company (NYSE:CRGY) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 134,699 shares of the company’s stock, valued at approximately $1,130,000. Crescent Energy comprises 0.9% of McAlvany Wealth Management LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in shares of Crescent Energy in the 3rd quarter worth approximately $27,000. Fifth Third Bancorp grew its holdings in shares of Crescent Energy by 109.3% in the fourth quarter. Fifth Third Bancorp now owns 3,905 shares of the company’s stock valued at $33,000 after acquiring an additional 2,039 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Crescent Energy by 134.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,986 shares of the company’s stock valued at $33,000 after acquiring an additional 2,286 shares during the last quarter. Quarry LP increased its position in shares of Crescent Energy by 303.5% during the third quarter. Quarry LP now owns 4,152 shares of the company’s stock valued at $37,000 after acquiring an additional 3,123 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Crescent Energy by 42.3% during the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock worth $40,000 after acquiring an additional 1,401 shares during the period. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stephens reissued an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research report on Tuesday, May 5th. KeyCorp reaffirmed an “overweight” rating and set a $19.00 target price on shares of Crescent Energy in a research report on Thursday, June 11th. William Blair reiterated an “outperform” rating on shares of Crescent Energy in a research note on Friday, March 6th. Johnson Rice reissued an “accumulate” rating and issued a $19.00 price target on shares of Crescent Energy in a report on Wednesday, March 25th. Finally, Mizuho increased their price target on shares of Crescent Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Crescent Energy presently has an average rating of “Moderate Buy” and a consensus price target of $15.82.

Crescent Energy Trading Down 0.1%

NYSE:CRGY opened at $10.43 on Friday. Crescent Energy Company has a 12 month low of $7.68 and a 12 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’s 50 day moving average is $12.34 and its 200 day moving average is $10.96. The stock has a market capitalization of $3.44 billion, a PE ratio of -13.90 and a beta of 1.37.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.14. Crescent Energy had a positive return on equity of 8.10% and a negative net margin of 7.47%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned $0.57 earnings per share. Crescent Energy’s revenue was up 24.5% compared to the same quarter last year. Sell-side analysts expect that Crescent Energy Company will post 1.99 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.48 annualized dividend and a yield of 4.6%. Crescent Energy’s dividend payout ratio (DPR) is -64.00%.

Crescent Energy 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.