MQS Management LLC Invests $91,000 in Crescent Energy Company $CRGY

MQS Management LLC purchased a new position in Crescent Energy Company (NYSE:CRGY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,558 shares of the company’s stock, valued at approximately $91,000.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group boosted its holdings in shares of Crescent Energy by 1,110.3% in the first quarter. Brooklyn Investment Group now owns 2,457 shares of the company’s stock worth $28,000 after acquiring an additional 2,254 shares during the period. Allworth Financial LP bought a new position in shares of Crescent Energy in the first quarter worth $34,000. GAMMA Investing LLC boosted its holdings in shares of Crescent Energy by 287.3% in the second 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. Focus Partners Advisor Solutions LLC bought a new position in shares of Crescent Energy in the second quarter worth $97,000. Finally, DRW Securities LLC bought a new position in shares of Crescent Energy in the first quarter worth $115,000. 52.11% of the stock is owned by institutional investors.

Crescent Energy Trading Down 4.0%

NYSE CRGY opened at $8.09 on Wednesday. The stock’s 50-day simple moving average is $8.87 and its two-hundred day simple moving average is $8.88. Crescent Energy Company has a twelve month low of $6.83 and a twelve month 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 company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -44.92 and a beta of 1.89.

Crescent Energy (NYSE:CRGY) last released its quarterly earnings results on Monday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. Crescent Energy had a return on equity of 13.35% and a net margin of 0.67%.The business had revenue of $897.98 million for the quarter, compared to the consensus estimate of $868.34 million. Research analysts forecast that Crescent Energy Company will post 0.77 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 18th. This represents a $0.48 dividend on an annualized basis and a yield of 5.9%. Crescent Energy’s dividend payout ratio (DPR) is presently -266.67%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crescent Energy in a report on Wednesday, October 8th. Mizuho dropped their price objective on Crescent Energy from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Zacks Research raised Crescent Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. William Blair began coverage on Crescent Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Finally, Wall Street Zen raised Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.22.

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.