Crescent Energy Company $CRGY Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers grew its stake in Crescent Energy Company (NYSE:CRGY) by 53.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,372,257 shares of the company’s stock after purchasing an additional 478,754 shares during the period. Cetera Investment Advisers’ holdings in Crescent Energy were worth $11,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group boosted its stake in Crescent Energy by 1,110.3% during the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock worth $28,000 after buying an additional 2,254 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Crescent Energy by 287.3% during the 2nd quarter. GAMMA Investing LLC now owns 9,585 shares of the company’s stock worth $82,000 after acquiring an additional 7,110 shares during the period. MQS Management LLC acquired a new position in shares of Crescent Energy during the 2nd quarter valued at about $91,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Crescent Energy in the second quarter valued at about $97,000. Finally, PNC Financial Services Group Inc. increased its position in Crescent Energy by 26.0% during the second quarter. PNC Financial Services Group Inc. now owns 12,726 shares of the company’s stock worth $109,000 after purchasing an additional 2,624 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Crescent Energy Trading Down 3.2%

CRGY opened at $8.73 on Friday. Crescent Energy Company has a 52 week low of $6.83 and a 52 week high of $16.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $8.71 and a 200-day simple moving average of $8.93. The firm has a market cap of $2.22 billion, a P/E ratio of -48.47 and a beta of 1.86.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The firm had revenue of $866.58 million for the quarter, compared to the consensus estimate of $887.54 million. On average, equities analysts expect that Crescent Energy Company will post 0.77 earnings per share for the current year.

Crescent Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.5%. Crescent Energy’s dividend payout ratio (DPR) is presently -320.00%.

Wall Street Analyst Weigh In

CRGY has been the topic of several recent analyst reports. Zacks Research upgraded shares of Crescent Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Raymond James Financial set a $17.00 price target on shares of Crescent Energy and gave the company a “strong-buy” rating in a research report on Wednesday, August 27th. Piper Sandler lowered their price objective on Crescent Energy from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday. Wall Street Zen cut Crescent Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Crescent Energy in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.11.

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.