Crescent Energy Company $CRGY Holdings Lowered by Pingora Partners LLC

Pingora Partners LLC decreased its stake in Crescent Energy Company (NYSE:CRGY) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,159,819 shares of the company’s stock after selling 53,074 shares during the quarter. Crescent Energy makes up approximately 6.0% of Pingora Partners LLC’s investment portfolio, making the stock its 2nd largest position. Pingora Partners LLC’s holdings in Crescent Energy were worth $9,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Osaic Holdings Inc. boosted its stake in shares of Crescent Energy by 25.2% in the second quarter. Osaic Holdings Inc. now owns 5,301 shares of the company’s stock worth $46,000 after buying an additional 1,066 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Crescent Energy by 2.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 62,706 shares of the company’s stock valued at $526,000 after acquiring an additional 1,245 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Crescent Energy by 8.9% in the first quarter. AQR Capital Management LLC now owns 17,104 shares of the company’s stock valued at $192,000 after purchasing an additional 1,397 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Crescent Energy by 42.3% in the fourth quarter. Allworth Financial LP now owns 4,712 shares of the company’s stock valued at $40,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Crescent Energy by 2.1% in the third quarter. Comerica Bank now owns 84,852 shares of the company’s stock valued at $757,000 after purchasing an additional 1,726 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRGY shares. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Stephens reiterated an “overweight” rating and issued a $18.00 price objective on shares of Crescent Energy in a research report on Tuesday, May 5th. Piper Sandler increased their price objective on Crescent Energy from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Mizuho increased their price objective on Crescent Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 price target for the company in a research report on Friday, March 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.00.

Crescent Energy Stock Down 0.1%

Crescent Energy stock opened at $11.57 on Monday. Crescent Energy Company has a 1-year low of $7.68 and a 1-year high of $14.29. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $3.82 billion, a PE ratio of -15.42 and a beta of 1.37. The stock’s fifty day moving average is $12.60 and its two-hundred day moving average is $10.92.

Crescent Energy (NYSE:CRGY) last posted its earnings results on Monday, May 4th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. On average, sell-side analysts expect that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, May 18th. Crescent Energy’s payout ratio is -64.00%.

Crescent Energy Company 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.