Crescent Energy Company $CRGY Shares Bought by Callahan Advisors LLC

Callahan Advisors LLC raised its position in Crescent Energy Company (NYSE:CRGY) by 11.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,843 shares of the company’s stock after purchasing an additional 6,012 shares during the quarter. Callahan Advisors LLC’s holdings in Crescent Energy were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CRGY. Nuveen LLC acquired a new stake in shares of Crescent Energy in the first quarter valued at approximately $21,782,000. Alyeska Investment Group L.P. increased its stake in shares of Crescent Energy by 452.3% in the first quarter. Alyeska Investment Group L.P. now owns 1,585,185 shares of the company’s stock valued at $17,817,000 after purchasing an additional 1,298,155 shares during the period. American Century Companies Inc. increased its stake in shares of Crescent Energy by 10.0% in the first quarter. American Century Companies Inc. now owns 13,967,599 shares of the company’s stock valued at $156,996,000 after purchasing an additional 1,266,674 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Crescent Energy by 42.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,969,411 shares of the company’s stock valued at $44,616,000 after purchasing an additional 1,174,576 shares during the period. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Crescent Energy in the first quarter valued at approximately $10,087,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Trading Up 0.1%

Crescent Energy stock opened at $8.37 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -46.47 and a beta of 1.89. Crescent Energy Company has a 1 year low of $6.83 and a 1 year high of $16.94. The firm’s 50 day moving average price is $9.06 and its two-hundred day moving average price is $8.92.

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

Crescent Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.12 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.48 annualized dividend and a yield of 5.7%. Crescent Energy’s payout ratio is -266.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Crescent Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research lowered shares of Crescent Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Mizuho lowered their price objective on shares of Crescent Energy from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Raymond James Financial set a $17.00 price objective on shares of Crescent Energy and gave the company a “strong-buy” rating in a research note on Wednesday, August 27th. Finally, William Blair assumed coverage on shares of Crescent Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

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.