Carson Advisory Inc. Buys Shares of 10,875 Crescent Energy (NYSE:CRGY)

Carson Advisory Inc. bought a new stake in Crescent Energy (NYSE:CRGY) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 10,875 shares of the company’s stock, valued at approximately $144,000.

A number of other large investors also recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Crescent Energy during the third quarter worth approximately $140,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Crescent Energy during the third quarter worth approximately $403,000. Bank of New York Mellon Corp increased its stake in shares of Crescent Energy by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 482,065 shares of the company’s stock worth $6,093,000 after buying an additional 12,903 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Crescent Energy by 134.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,097 shares of the company’s stock worth $178,000 after buying an additional 8,092 shares during the period. Finally, Northwestern University purchased a new stake in shares of Crescent Energy during the third quarter worth approximately $13,789,000. Institutional investors and hedge funds own 52.11% of the company’s stock.

Crescent Energy Price Performance

Crescent Energy stock traded up $0.07 during midday trading on Friday, reaching $10.57. 937,087 shares of the company were exchanged, compared to its average volume of 1,326,378. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.14 and a beta of 2.29. The firm’s 50-day simple moving average is $11.24 and its 200-day simple moving average is $11.51. Crescent Energy has a 1 year low of $9.17 and a 1 year high of $14.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.82 and a current ratio of 0.82.

Crescent Energy (NYSE:CRGY) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.37. The firm had revenue of $657.73 million for the quarter, compared to analyst estimates of $584.12 million. Crescent Energy had a return on equity of 13.30% and a net margin of 2.84%. On average, analysts anticipate that Crescent Energy will post 1.28 EPS for the current year.

Crescent Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.54%. The ex-dividend date was Thursday, March 14th. Crescent Energy’s dividend payout ratio (DPR) is presently 37.21%.

Insider Buying and Selling

In related news, major shareholder Energy Aggregator Independence sold 13,800,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRGY shares. TheStreet upgraded shares of Crescent Energy from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Mizuho reaffirmed a “neutral” rating and set a $13.00 price target (down from $14.00) on shares of Crescent Energy in a report on Friday, March 22nd. Wells Fargo & Company increased their price target on Crescent Energy from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Raymond James cut their price objective on Crescent Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Truist Financial cut their price objective on Crescent Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 5th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.38.

Crescent Energy Profile

Crescent Energy Company, an energy company, acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. The company holds a portfolio of oil and natural gas assets in key proven regions, including Eagle Ford and Uinta basins. The company is based in Houston, Texas.