Corigliano Investment Advisers LLC Acquires Shares of 311,500 Crescent Energy Company $CRGY

Corigliano Investment Advisers LLC purchased a new stake in shares of Crescent Energy Company (NYSE:CRGY) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 311,500 shares of the company’s stock, valued at approximately $2,613,000. Crescent Energy accounts for approximately 0.9% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 27th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its position in shares of Crescent Energy by 775.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,303,260 shares of the company’s stock worth $27,714,000 after buying an additional 2,925,780 shares in the last quarter. Aventail Capital Group LP grew its position in shares of Crescent Energy by 8.8% during the 4th quarter. Aventail Capital Group LP now owns 1,085,739 shares of the company’s stock valued at $9,109,000 after buying an additional 87,989 shares during the last quarter. Aristeia Capital L.L.C. raised its position in shares of Crescent Energy by 26.8% during the 4th quarter. Aristeia Capital L.L.C. now owns 57,135 shares of the company’s stock worth $479,000 after purchasing an additional 12,086 shares during the period. ACT Capital Management LLC acquired a new stake in Crescent Energy in the fourth quarter worth $514,000. Finally, Freestone Grove Partners LP increased its holdings in shares of Crescent Energy by 156.8% in the 4th quarter. Freestone Grove Partners LP now owns 2,523,223 shares of the company’s stock worth $21,170,000 after acquiring an additional 1,540,842 shares during the period. Institutional investors and hedge funds own 52.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CRGY shares. Piper Sandler raised their target price on Crescent Energy from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Wells Fargo & Company boosted their target price on shares of Crescent Energy from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised Crescent Energy from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Friday, March 20th. KeyCorp restated an “overweight” rating and issued a $19.00 price target on shares of Crescent Energy in a research report on Thursday, June 11th. Finally, Zacks Research upgraded Crescent Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.00.

Crescent Energy Stock Down 0.3%

CRGY stock opened at $10.78 on Thursday. The firm has a market cap of $3.56 billion, a PE ratio of -14.38 and a beta of 1.37. The company has a fifty day simple moving average of $12.45 and a 200 day simple moving average of $10.96. Crescent Energy Company has a 1 year low of $7.68 and a 1 year 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.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.53 earnings per share for the quarter, beating 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 the consensus estimate of $1.15 billion. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. Sell-side analysts anticipate that Crescent Energy Company will post 1.99 EPS for the current fiscal year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, May 18th. Crescent Energy’s dividend 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.